Binance just revealed an exciting new partnership that will benefit institutional clients. Check out the latest reports below.
Binance teams up with Injective
Here’s the tweet that the important crypto exchange shared via social media.
As part of our new staking release, we’re delighted to introduce our partnership with @Injective_
— Binance Custody (@BinanceCustody) November 29, 2022
“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.
According to the official blog post, Binance said that the 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 the help of 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 the cold storage solution.
Institutions have complete flexibility and autonomy to adapt their validator strategy. This will be based on performance to maximize yield.
“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.
Yu continued and said the following:
“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.”
We suggest that you check out the complete details in the official Binance blog post.