In a press release earlier this week, crypto staking company Staking Rewards announced a successful funding round of 3 million Swiss Frank (around $3,200,000 USD) co-led by Digital Currency Group, Galaxy Digital and CoinShares.
“The company is looking to use the money to start building an innovative suite of crypto staking products and services.”– Mirko Schmiedl, Staking Rewards CEO
The round also included additional angel investors, and noticeable names such as 1kx Capital and Sygnum Bank.
Christopher He-man of 1kx Capital explained the company’s investment in Staking Rewards, saying
“Passive income opportunities like staking are going to be one of crypto’s strongest adoption drivers, and Staking Rewards is perfectly positioned to capture a substantial market of those”.
One such example is the company’s announcement of its planned SR20 Index launch. The SR20 is an objective staking market index composed of the largest income-generating crypto assets. The index tracks the staking rewards that are generated from modern proof-of-stake assets.
More Investments To Follow?
Crypto staking is already attracting massive attention from institutions and large investment firms around the world who are opening up to the idea of DeFi being the future of money.
It seems like a pretty safe bet to then assume that Staking Rewards’s funding round will not be the last in the vibrant crypto staking industry. We’re likely going to see brand name tech VCs and crypto-native investment firms who are eager to get in on the crypto staking train put up some serious money in the coming months.
Pioneers in Crypto Staking
Founded in 2017 by brothers Mirko and Jannik Schmiedl, Staking Rewards provides insights and investment tools for private and institutional investors by offering crypto staking market data. Imagine the enterprise precision level and tools offered by CoinMarketCap, but for Staking.
Staking Rewards provide data to big names such as Coinbase, Bitcoin Suisse, Kraken, eToro and many others through their top-notch API.