Staking Rewards, a provider of data on staking and other forms of income from digital assets, closed a $3.2 million funding round with sixfold oversubscription. It was led by Galaxy Digital, Digital Currency Group and CoinShares.
We are extremely excited to announce that we have successfully raised 3M CHF from the world’s 3 leading digital asset investment firms; @GalaxyDigitalHQ, @CoinSharesCo, and @DCGco 🚀👀
Full announcement👇https://t.co/Ke8BI8mck7
— Staking Rewards (@StakingRewards) November 23, 2021
1kx Capital, Sygnum Bank and a number of angel investors also participated in the round.
The lead investors are integrating Staking Rewards’ services into their own solutions. The company’s API, used by Coinbase and Bitcoin Suisse, is a key part of this partnership.
The funding will be used to launch new products, including asset indices with staking capabilities.
Founded in 2018, Staking Rewards serves private and institutional investors. The platform offers real-time market data on staking, portfolio construction and a calculator, and conducts research.
According to Staking Rewards, more than 400,000 investors use the service monthly, and page views exceed 4.7 million.
Representatives of the startup estimated the staking market at $9 billion, with annual growth of 1,550%.
Analysts at JPMorgan forecasted a rise in staking capacity to $40 billion after the launch of Ethereum 2.0.
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