Quick Take
- Swiss financial platform Bitcoin Suisse has joined Liquid Collective so it can offer Ethereum liquid staking to its private and institutional clients.
- Liquid Collective is a decentralized protocol trying to increase Ethereum liquid staking adoption from institutions.
Leading Swiss crypto platform Bitcoin Suisse joined Liquid Collective to offer Ethereum liquid staking on its platform.
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Its clients will be able to stake Ethereum through Liquid Collective and will also receive insurance coverage if slashing — which takes away ETH tokens from validators for bad actions — occurs.
“I think institutions and other enterprises will be watching early movers like Bitcoin Suisse carefully as investors evaluate how to put their ETH to work,” Alluvial’s chief growth officer Mara Schmiedt told The Block. “There’s a real need in the market for enterprise-grade solutions like Liquid Collective that make it easier to participate in liquid staking and provide comprehensive slashing coverage to all participants.”
The Liquid Collective is an independent group of crypto teams that includes companies like Kraken, Coinbase Cloud and Alluvial. It is a decentralized protocol working to create standards for Ethereum liquidity staking. Joining the collective allows Bitcoin Suisse to use the collective’s liquid staking services, which gives back users their own LsETH token for their staked ETH.
Liquid staking allows users to stake ETH tokens and receive back a liquid and usable token. This is beneficial because yield is being earned while still letting users use their ETH for transactions, trades and other actions.
“Institutional and private clients are increasingly looking to participate in staking to earn network rewards,” said Bitcoin Suisse’s chief product officer Michael Gauckler.
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