Staking Provider P2P.org Raises $23M From Big-Name Investors to Drive Institutional Offering
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
:format(jpg)/www.coindesk.com/resizer/Wsw21Z13uYNeMwlEy09fcHX_LHw=/arc-photo-coindesk/arc2-prod/public/Z2G3HHMTVJGWRAQIH4UHCT3FEY.jpg)
Jamie Crawley is a CoinDesk news reporter based in London.
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Staking service provider P2P.org has raised $23 million in funding from a trio of crypto industry heavyweights: Web3 investor Jump Crypto, crypto exchange Bybit and digital asset bank Sygnum.
P2P is in the process of developing a new infrastructure platform catering to intermediaries, as opposed to its existing service that is focused on direct holders.
The firm is attempting to capitalize on the recent Shanghai upgrade of the Ethereum network, allowing users to withdraw assets they have “staked.”
Also referred to as Shapella, the Shanghai upgrade is expected to heighten institutional interest in Ethereum thanks to the increased liquidity it is generating.
P2P says it will use the funding to develop blockchain infrastructure that enhances the user experience in staking as well as researching and developing expansion initiatives.
Edited by Stephen Alpher.
DISCLOSURE
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
Digital Currency Group,
which invests in
cryptocurrencies
and blockchain
startups.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
stock appreciation rights,
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Jamie Crawley is a CoinDesk news reporter based in London.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Jamie Crawley is a CoinDesk news reporter based in London.
