Chorus One Teams Up with Ledger for Self-Custodial ETH and SOL Staking

Chorus One, a provider of institutional staking services, has joined forces with Ledger Enterprise. This partnership introduces self-custodial, governance-ready staking for Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Tezos (XTZ), allowing institutions to earn staking rewards while maintaining control over their assets.

Key Takeaways

Partnership: Chorus One collaborates with Ledger Enterprise for self-custodial staking.
Supported Cryptocurrencies: The alliance covers staking for ETH, SOL, DOT, and XTZ.
Security: Ledger protects private keys while Chorus One ensures robust validator performance.
Institutional Focus: The setup keeps governance in the hands of institutions while enhancing security and compliance.
Market Insight: Demand for staking solutions is growing among institutions, with related news highlighting notable market trends.

Staking, Ledger

Main Content

Institutional staking service provider Chorus One has forged a partnership with Ledger Enterprise to offer self-custodial, governance-ready staking options for four different cryptocurrencies.

As stated in a press release shared with Cryptonews.com, this collaboration is aimed at enabling institutions to earn staking rewards directly within Ledger's custody framework. This means that all staking activities take place within the institution's current governance system. Consequently, institutions can engage with Proof-of-Stake (PoS) networks without needing to transfer ownership of their assets or jeopardizing their internal governance processes.

The partnership provides staking services for Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Tezos (XTZ). According to the announcement, Ledger's hardware and governance controls safeguard the private keys, while Chorus One supports this with institutional-grade validator services. Their focus is on offering research-driven staking operations and ensuring robust validator infrastructure.

Additional features of the collaboration include multi-authentication processes and customizable governance workflows, in addition to comprehensive reporting and auditing tools to aid compliance and treasury management.

“Institutions require staking solutions that align with their security, compliance, and operational needs,” explained Damien Scanlon, Chief Product Officer at Chorus One. He emphasized that this integration enables both companies to provide an efficient staking experience that maintains client governance.

Recent Developments in Staking

Sébastien Badault, Executive Vice President at Ledger Enterprise, highlighted that digital asset adoption among companies is accelerating globally. However, he stressed that “uncompromising security and governance remain essential requirements.” By integrating Chorus One’s staking infrastructure into the Ledger Enterprise platform, it becomes easier for institutions to earn staking yields.

Recently, the staking space has garnered significant media attention. Notably, Robinhood’s CEO, Vlad Tenev, mentioned that staking is one of the most requested features among users. He advocated for the US to lead in establishing crypto policy, addressing the fact that the staking feature isn't available in four states due to regulatory issues. Tenev noted that "Stock Tokens are available to our customers in the EU, but not in our home market."

Moreover, SharpLink Gaming reported its decision to fully commit to ETH, placing its entire crypto treasury into staking, which has generated over $33 million in passive income from ETH over the last seven months.

In another development, Bitmine increased its ETH holdings by nearly 100,000 ETH, valued at approximately $344.4 million, raising its total to 908,192 ETH, which is worth about $2.95 billion. This addition followed a prior report of staking 19,200 ETH, valued at $60.85 million.

Currently, Chorus One manages infrastructure for more than forty PoS networks, including Cosmos, Solana, Avalanche, and Near. On the other hand, Ledger recently introduced its Ledger Nano Gen5 and is considering a US market listing while preparing to raise funds.

“New York is currently the hub for crypto investment; no other place in the world, particularly not in Europe, can compete,” stated Pascal Gauthier, the company's CEO.

At the start of January, Ledger faced a security breach where hackers exploited vulnerabilities in their Global-e payment processor, allowing access to customer names and contact information, although they confirmed that wallets and private keys remained secure.