Announcements>Binance Custody Launches New Staking Feature with Injective Support

Binance Custody Launches New Staking Feature with Injective Support

2022-11-29 01:50:38

 

We’re excited to announce that institutional clients now have the ability to earn yield on supported assets held under secure and insured cold storage custody with our new Direct Staking feature. As part of this release, we are also delighted to introduce our partnership with Injective, which allows Binance Custody clients to stake their $INJ tokens directly from their Qualified Wallet. $INJ is the first token to be supported for staking on Binance Custody, with more to follow. 


"The Binance Custody integration of Injective is a monumental step for the broader ecosystem as it introduces the Injective blockchain to an entirely new institutional audience. Now dApps launching on top of Injective can seamlessly secure new tokens launched on Injective with Binance Custody and attract more institutional clients in the process," said Injective Labs co-founder and CEO, Eric Chen.


Our staking mechanism allows institutions to delegate their assets directly to node validators participating in the validation of the Proof of Stake (POS) Injective blockchain. With this feature, Binance Custody provides a safe, direct gateway to all the validators through which clients may wish to stake their tokens, from the security of our cold storage solution.


Institutions have complete flexibility and autonomy to adapt their validator strategy based on performance to maximize yield. If their selected validators are underperforming, clients can choose to quickly switch to new validators with better performance.


“This is an important milestone for us. We’re thrilled to be launching this long-anticipated feature with Injective as the first available staking asset,” shares Athena Yu, VP of Binance Custody. “Given the current climate, we can’t emphasize enough the importance of continuing to build innovative, security-first products that still provide clients with opportunities to make their assets work for them instead of only letting them sit in cold storage. Now, Binance Custody clients can choose either strategy, or both.”


Our segregated account and wallet systems ensure that client assets deposited in our cold wallet solution are never commingled with other clients’ assets. Clients can delegate tokens for staking from the security of their Binance Custody wallets.  


If your institution is currently holding $INJ tokens and would like to start earning a yield on your cold storage funds, contact our team to get started. You may also convert any of our supported tokens to $INJ tokens using our secure Cold Convert product, directly from your Qualified Wallet. 
 

 

About Binance Custody

Binance Custody is a regulated, compliant, institutional-grade custody infrastructure offering integrated custody solutions that address the security and operational challenges faced by institutions participating in the digital asset economy. Its multi-party computation (MPC) technology, combined with a customizable multi-approval scheme, provides bespoke solutions allowing institutional clients to safely store and manage their digital assets while also benefiting from its secure gateway to a wide range of liquidity products by way of its connectivity to the Binance ecosystem. 

For more information, contact sales@binanceinstitutional.com 

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About Injective Protocol

Injective is a lightning-fast interoperable layer one blockchain that brings Cosmos and Ethereum interoperability to the premier finance applications. Injective provides developers with powerful modules for building exchange, DeFi, derivatives & Web3 apps. INJ is the native deflationary scarce asset that powers the Injective Protocol and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.

For more information, visit www.injective.com