Cordial Systems rolls out staking support for Ethereum, Solana, and Cosmos blockchains, with plans to support 40+ more, offering clear-signing-only transactions for enhanced security and allowing onboarded staking providers to co-host Cordial Treasury Software for increased customer security and distributed wallet support.
NEW YORK, Sept. 5, 2024 /PRNewswire-PRWeb/ -- Cordial Systems, a provider of institutional-grade self-custody software using a Zero Trust security model, announces the roll-out of staking support for Ethereum, Solana, and Cosmos blockchains, with plans to expand to the 40+ relevant chains supported by Cordial Treasury. The rollout is in partnership with leading staking providers Kiln, Figment, Bridgetower Capital, and Twinstake.
"Cordial Treasury now includes staking. All of our staking-related flows include clear-signing transactions and policy control features. We also extend our existing capabilities of being able to add wallet support for any blockchain in 1-2 weeks to also include staking support in that time with our best-in-class staking partners. These developments further solidify our position as the only wallet to keep up with the front office of the most demanding institutions in crypto," said Sebastian Higgs, Co-founder and COO of Cordial Systems.
Figment, the leading global provider of staking infrastructure with over 500 institutional clients and $15 billion in assets staked, is excited to be working with the Cordial team as a staking service provider.
"Cordial's ability to rapidly add support for new protocols combined with Figment's role as a staking provider for new networks will enable foundations and institutional investors to earn staking rewards from token launch." said Ben Spiegelman, VP, head of corporate development and partnerships at Figment.
"This partnership is strategically important as it allows us to co-host wallet infrastructure with Cordial, enabling us to deliver secure, accessible staking and a broader spectrum of operational support to work with our mutual clients." remarked Laszlo Szabo, Co-founder and CEO at Kiln.
As one of the leading staking and digital asset rewards management platforms, Kiln runs validators on all major PoS blockchains, with over $8.6 billion in crypto assets being programmatically staked.
"This partnership marks a significant milestone in our journey to provide increased governance using blockchain technologies," said Cory Pugh, CEO of Bridgetower Capital. "By combining our strengths, we are well-positioned to deliver groundbreaking solutions to our customers that will drive efficiency, security, and growth for businesses worldwide."
Bridgetower Capital is a digital asset, blockchain infrastructure company focusing on carbon-neutral business operations.
"Partnering with Cordial Systems enhances our commitment to delivering unparalleled security and operational resilience in staking, and strengthens our ability to offer top-tier, secure staking services to institutional clients," said Twinstake CEO Andrew Gibb.
Twinstake is the premier non-custodial staking provider for institutional clients, prioritizing reliability, transparency, and robust security measures to ensure optimal staking performance for financial institutions.
This collaboration ensures that staking across major PoS blockchains with the assurance of clear-signing only—eliminating raw and blind transaction signing is done securely. Cordial's advanced policy engine allows institutions to tailor their staking operations with hardcoded rules or policies —turning available chains in their wallet "on/off," setting validator address allowlists, implementing velocity limits, and more.
In an industry first, through these partnerships, Cordial Systems offers a co-hosted wallet infrastructure option for institutions already onboarded with these trusted infrastructure providers. While some firms want to self-host all servers running the Cordial Treasury wallet software, others prefer to have a trusted operating partner who can run half or a minority portion of the nodes on Cordial Treasury - like a more robust co-signing option. This enables clients to mitigate insider threats by operating their wallets in diversified computing environments through their onboarded staking provider, increasing operational resilience.
The operating partner can simply run a node to provide active redundancy, or run multiple nodes to ensure broader service availability. This represents a significant leap in operational security and resilience, going beyond the basic approach of simply distributing keys between the customer, custodian, and/or a third party. All parties run all wallet infrastructure processes under the hood in a zero-trust manner with the customer retaining self-custody and control.
As the Cordial Treasury product continues to evolve, the applications of distributed infrastructure extend beyond co-hosting setups of wallets. The interoperability and shared ledger would provide some much-needed efficiencies in capital and collateral management. Moving beyond simply mirroring database credits and debits, to moving towards true funding and liquidity management via portfolio-level netting, settlement, and margining. This would represent a significant leap forward in the market, focusing on pruning gross transaction settlement and gross notional exposure, along with the associated balance sheet costs. Cordial's customers and partners understand the direction of the market and look to Cordial Systems to help materialize it.
Cordial Systems looks forward to further rolling out its staking capabilities, co-hosting arrangements, and introducing other innovations to support the wider crypto and digital asset market infrastructure.
To learn more about Cordial Systems, please visit cordialsystems.com.
For media inquiries, please contact Dayana Aleksandrova at (310) 260-7901 or Dayana (at) MelrosePR (dot) com.
About Cordial Systems
Cordial Systems provides institutional-grade self-custody software utilizing a zero-trust security model. With a focus on security, flexibility, and innovation, Cordial Systems supports over 40+ blockchains, enabling institutions to securely manage and stake digital assets with advanced policy controls.
Media Contact
Dayana Aleksandrova, Cordial Systems, (310) 260-7901, [email protected], https://cordialsystems.com/
SOURCE Cordial Systems
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