TLDR
- Anchorage offers institutional staking for Starknet’s STRK token, with a 7.28% APR.
- Crypto staking is growing as institutions seek yield alternatives to traditional financial products.
- Starknet’s ecosystem continues to expand, with BTC staking and new validator programs.
- The partnership enhances Starknet’s integration into traditional financial systems through secure institutional services.
Anchorage Digital, a chartered U.S. crypto bank, has launched custody and staking services for Starknet’s native token, STRK. This service is designed to meet institutional demand for crypto yield generation, providing a secure way for large investors to stake digital assets and earn rewards. This announcement comes at a time when institutional interest in crypto staking is growing, driven by the appeal of yield-bearing crypto products.
Anchorage New Path for Institutional Investors
Anchorage’s new service allows institutions to securely stake STRK through the platform’s U.S. and Singapore operations or its self-custody Porto wallet. With an annual percentage rate (APR) of 7.28%, institutional clients can now earn rewards while contributing to the network’s security.
“Anchorage is providing institutions with safe and seamless access to one of the fastest-growing crypto ecosystems,” said Anchorage CEO Nathan McCauley. The partnership with Starknet allows for an institutional-grade staking service, marking a milestone for the scaling network and its expanding ecosystem.
Starknet, a Layer-2 scaling network built on Ethereum, leverages zero-knowledge proofs to enhance the scalability and efficiency of Ethereum applications. The platform’s new staking feature is part of its decentralization roadmap, which helps secure the network while offering users rewards for their participation.
Growing Demand for Crypto Yield
Crypto staking has become increasingly popular among institutions as they seek yield-bearing opportunities in the digital asset space. The rise of staking products is seen as a competitive alternative to traditional financial products like U.S. Treasurys, which currently yield around 4% to 4.5%.
With monetary policies shifting toward a lower-rate environment, staking opportunities such as those offered by Anchorage and Starknet are becoming even more attractive for large investors seeking better returns.
Ethereum’s staking network has also seen a surge in popularity, with its staking queue reaching its highest levels since the Shanghai upgrade in 2023. On-chain data shows that more than 860,000 ETH, worth approximately $3.7 billion, are waiting to be staked, signaling strong institutional interest in crypto yield products.
Starknet’s Expanding Ecosystem
Starknet has made significant strides in growing its ecosystem. In August, the network introduced SNIP-31, which added Bitcoin staking and allowed wrapped BTC assets to receive STRK rewards. This update helps Starknet position itself as a competitor in the rapidly growing BTCfi market and brings the network closer to Bitcoin’s liquidity.
Other developments include the migration of the decentralized exchange (DEX) Extended onto Starknet, bringing liquid staking tokens into the ecosystem. Additionally, new validator programs are being introduced to increase decentralization, and more than 480 million STRK have already been staked on the network.
Anchorage’s institutional-grade services contribute to this momentum by offering a compliant and secure platform for large investors to stake STRK. For Starknet, it is an important step in integrating its technology with major financial players, providing them with the tools needed to participate in the network securely.
