Danish Northstake collected 2.8 million euros to improve its multi-chain staking platform dedicated to institutional investors.
Founded in Copenhagen in 2021, Northstake is developing a platform enabling institutional staker cryptocurrencies and generate returns.
On Thursday, the startup announced that it had raised 2.8 million euros from local VCs such as PreSeed VenturesMorph Capital and The Aventures Fund. Also participating were the British fund Funfair Ventures and the American fund Delta Blockchain Fund.
As we see the blockchain and digital asset economies grow, we will also see more and more rules. Our staking products comply with AML/KYC practices and laws and use state-of-the-art MPC technology to hold and stake funds in full compliance with MiCA,” commented Northstake director Jesper Johansen in a statement shared with RoyalsBlue.com.
The newly-raised funds will enable Northstake to continue to innovate in the field of staking to attract more customers. The start-up had already completed several rounds of financing. In total, it raised $6.2 million, according to data provided by Crunchbase.
Sa staking platformwhich staked over $80 million in assets last year, is compatible with numerous blockchain networks including Cardano, MultiversX, Polkadot, Polygon, Solana and of course Ethereum.
Northstake also plans to offer the following products in the near future structured investment products axed staking. The first of its kind will be dedicated to Ethereum. It will be the “first Ethereum Staking alternative investment fund in Europe”. “according to the ad.
Kavita Gupta, founder of New York venture capital firm Delta Blockchain Fundestimates that Northstake offers “a higher level of security and compliance measures “.
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