Digital Asset Custody Company Announces Staking Support

SECAUCUS, N.J., Nov. 26, 2018 /PRNewswire/ -- Digital Asset Custody Company ("DACC"), a leading cryptocurrency custody solution purpose-built for institutional investors and token issuers, today announced that it will now offer staking support for its customers. DACC expects to deliver staking services to its' general customer base in the first quarter of 2019.

Staking is a way for customers holding digital assets to generate a revenue stream through proof-of-stake rewards. Proof-of-stake (also called "staking") is a consensus algorithm used to achieve agreement between nodes of certain blockchains. Staking is used by protocols like Stellar Lumens, Dash, HoriZen, Tezos and others and is thought to be more computationally efficient and scalable than other consensus algorithms such as proof-of-work. Significant holders of assets on proof-of-stake chains can lock up or "stake" their holdings and receive rewards for participating in the validation process of the network.

DACC's Enclave wallet allows assets in custody to be staked from its secure storage environment. This enables institutional customers to earn staking rewards without compromising the security of their assets.  "With high profile proof-of-stake projects getting more and more traction, we felt it important to provide a solution to our customers that allowed them to participate in these projects. Our solution provides secure cold-storage custody of their private keys while allowing them to earn staking rewards on these blockchains," said Matthew Johnson, Co-Founder and Chief Product Officer of DACC. "We are excited to expand our product offering to our clients and provide them access to this revenue source in a secure manner."

About Digital Asset Custody Company

Digital Asset Custody Company, or DACC, is a purpose-built custodian to safeguard digital assets for institutions. DACC's SOC 1 certified custody service was built from the ground-up to secure digital assets on behalf of institutional clients. With its proprietary Enclave wallet technology, DACC can custody over 100 cryptocurrencies and 13 blockchains, rapidly and securely egress digital assets from air-gapped cold storage, and provide clients with 24/7 physical and digital security to safeguard their assets. DACC's senior management team is comprised of serial fintech entrepreneurs, prime brokerage executives, hedge fund and government agency security experts which provides the required experience and expertise to build the most extensive and secure technology and compliance systems for our clients.

For additional information, please visit https://digitalassetcustody.com/.

Contact

Michael Fitzgerald
Chief Executive Officer
Digital Asset Custody Company
[email protected] 
201-479-3227

SOURCE Digital Asset Custody Company

Related Links

http://www.digitalassetcustody.com

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED