Trustology Primes Ethereum 2.0 Staking for Institutional Clients
crypto custody solutions provider Trustology will be one of the first to offer built-in ETH 2.0 staking support, across mobile, web or API integration, for its client base of institutional investors and individuals when the upgrade comes later this year. According to their release, utilizing the mix of proprietary fail-safe software, hardware, and insurance, Trustology users will soon be able to stake ETH in a safe and simple to use manner via their TrustVault wallet account. Users can leverage TrustVault’s multiple layers of security including biometrics, multi-sig, walled gardens, and top-tier encryption—rendering a secure and intuitive staking experience.
As staking takes place via Trustvault’s API, users can stake via both desktop and mobile devices—extending additional accessibility to investors and validators alike.
The Ethereum 2.0 upgrade, which is expected later this year, will revamp Ethereum’s design and make the consensus switch to proof-of-stake (POS), which is anticipated to be a genuine game-changer for the Ethereum ecosystem. The upgrade will allow investors to earn passive income via staking while securing the Ethereum network. Demand for staking is already mounting. According to the latest estimates, there are approximately 120,000 Ethereum wallets containing 32 or more ETH, which could be an indication there is strong interest in staking on ETH 2.0.
As a secure and reliable gateway to staking services, Trustology negates the need for users to run their own infrastructure and reduces the risks of losing funds through slashing and other such penalties.Trustology was recently selected alongside Binance and four other vendors, to participate in ConsenSys’ Codefi staking-as-a-service pilot. By partnering with ConsenSys, Trustology is able to provide investors with a staking and validating service that ensures ease of use, a better user experience, and greater security as the keys to their funds are securely locked-up in the enterprise-grade TrustVault.
“Our partnership with ConsenSys enables us to fast-track stakers to the frontline to get a jump on earning interest on their passive income,” says Alex Batlin, CEO and founder of Trustology.
“ETH2.0 brings to the forefront the need for bank-grade secure, but lightning-fast, custody solutions. Thanks to our custom HSM firmware, we are able to lead the market in offering a fast and scalable custodial wallet solution both for investors looking to stake on ETH 2.0 and for validators involved in staking operations” Batlin added.
Trustology will also remove much of the complexities associated with ETH staking, such as generating the necessary withdrawal keys and digitally signing transactions. This means that when users withdraw ETH from the stake pool it goes back to the key they have control over, providing additional security and convenience.
TrustVault not only allows for enterprise-grade private key security but expedites transactions with sub-second processing times via mobile devices, desktops, and APIs.
Trustology’s move to facilitate ETH 2.0 staking supports the growing demand for staking from institutional investors. Per PwCs 2020 crypto hedge fund report, 42% of all crypto hedge funds are already actively engaged in staking—with a further 38% and 27% of hedge funds respectively involved in borrowing and lending. With ETH 2.0 pegged as one of the most exciting staking opportunities to-date, providing as much as 67% with varying lock up times and token inflation rates, Trustology is getting ahead of the curve and ensuring institutional investors can take advantage of new income opportunities in a safe, secure, and regulatory compliant manner.