GCEX, Lars Holst-headed digital prime brokerage, expanded its partnership with the custody platform Komainu to offer staking services to its institutional and professional clients.
GCEX Expands Komainu Partnership
Komainu is a joint venture between the investment bank, Nomura, the hardware technology company, Ledger, and the digital asset investment manager, CoinShares. Initially, GCEX partnered with the company last February to expand its crypto custody services.
“We are delighted to extend our partnership with Komainu, giving our clients access to secure and compliant staking services, enabling them to participate in staking rewards for digital assets,” said Holst, the Founder and CEO at GCEX. “We are committed to providing our clients with the best possible service, and this partnership is a testament to that.”
Staking Is Popular
Staking allows certain cryptocurrency holders to stake their holdings with blockchain validators and earn rewards. It has become popular as crypto holders can earn a percentage on their ideally kept cryptocurrencies.
While regulators in America and a few other countries are cracking down on staking, platforms like Komainu offer these services under the regulatory umbrella. Headquartered in Jersey, Komainu has offices in London, Dublin, Dubai, and Singapore. It is regulated by the Jersey Financial Services Commission (JFSC) and the Dubai Virtual Assets Regulatory Authority (VARA).
“Adding staking was a natural next step in our suite of offerings for GCEX clients,” Darren Jordan, the Head of Sales at Komainu, said. “Offering custody alone doesn’t cut it anymore; the market demands more innovative solutions, and clients require the utility of their assets. That is why Komainu built a suite of services, including regulated custody, staking, and collateral management, and we are pleased to extend our partnership with GCEX Group to provide staking services.”
Meanwhile, GCEX, founded in 2018, significantly expanded its geographical reach and products. The company, known for offering forex and crypto liquidity, jumped into the trading technology space and launched two proprietary trading platforms, one for crypto and another for contracts for differences (CFDs).
On top of that, GCEX published its financials for 2022, which was a year when its turnover jumped 136 percent to £4.5 million. Furthermore, it ended the year with a net profit of £1.5 million.