ROCHESTER, N.Y., Nov. 10, 2021 /PRNewswire/ -- Foundry Digital LLC ("Foundry"), a wholly-owned subsidiary of Digital Currency Group, Inc. ("DCG") focused on empowering decentralized infrastructures of digital assets, today announced Foundry Staking, a new business line that provides staking and other white-glove services around various proof-of-stake ("PoS") blockchain networks to institutions. Foundry Staking's range of services already covers 20 blockchain networks including Solana, Helium, The Graph, and Horizen.
In a PoS system, participants "lock" or "stake" their tokens in order to become eligible to generate the next block in the blockchain. In exchange for their services, these participants can receive staking rewards, which are tokens native to the protocol. Since launching in 2019, Foundry has emerged as one of the biggest players in proof-of-work networks such as Bitcoin. Now, Foundry is expanding its suite of services to make PoS networks more accessible to institutions.
"We have made significant investments in engineering talent and PoS infrastructure to replicate our mining success in the fast-growing staking industry," said Foundry CEO Mike Colyer. "Foundry will continue to support the development and growth of staking teams, protocols, and companies, strengthening PoS networks around the world and maximizing value for our clients."
Foundry Staking's offerings are tailored to institutions such as exchanges, wallets, custodians, hedge funds, banks and venture capital firms, and include various white-glove and customizable services—such as staking as a service and private validators—while maintaining institutional clients' privacy. Foundry Staking works hand-in-hand with digital asset prime brokerage Genesis to provide its clients with various treasury management services, including high-security custody, actionable insight for treasury management, staking strategies, and portfolio diversification.
"In 2020, our engineering team began building our staking solution from the ground up in order to stake our own assets and support DCG. Now, after more than a year of honing and battle testing our solutions, we're excited to bring this best-in-class offering to other institutions," said Adam Nemec, VP of Business Development at Foundry Staking. "We recognize these institutions have a diverse set of needs and operate in ever-evolving environments. With an expansive roadmap, a SOC 2 audit in progress, service alignment with our sister DCG companies, and direct connections with the most exciting PoS projects in the world, we are ready to deliver a superior level of service to our clients."
"Foundry has been an invaluable partner in building out the Horizen ecosystem," said Robert Viglione, Co-founder of Horizen and CEO of Horizen Labs, Inc. "In an industry that strives to build the trustless systems of the future, it pays to have professionals you can trust laying critical infrastructure. Foundry has been absolutely key to making Horizen the largest and most secure network in crypto!"
To learn more about Foundry Staking, visit foundrystaking.com
About Digital Currency Group, Inc.
Founded in 2015, Digital Currency Group is a global enterprise that builds, buys, and invests in blockchain companies all over the world. Today, DCG sits at the epicenter of the industry, backing more than 200 companies in 30+ countries. In addition to its investment portfolio, DCG is the parent company of some of the leading companies in the industry, including Grayscale Investments, Genesis Trading, CoinDesk, Foundry Digital, Luno, and TradeBlock.
For more information, please visit dcg.co.
About Foundry Digital LLC
A subsidiary of DCG, Foundry Digital LLC is a financing and advisory company focused on digital asset mining and staking. With the mission of empowering decentralized infrastructure for a digital world, Foundry provides North American digital asset mining businesses with capital and intelligence. Foundry is based in Rochester, NY. For more information, please visit foundrydigital.com