Wednesday, June 19, 2024

Northstake to Become a NEAR Protocol Validator

Northstake A/S, a highly-regulated, custodial, digital asset service provider helping institutions mitigate risk and seamlessly participate in crypto staking, today announced it is becoming a validator for the NEAR Protocol. As a validator, Northstake will help secure and verify decentralized transactions on NEAR, while simultaneously unlocking opportunities to stake and receive rewards with NEAR tokens for institutional investors. Northstake boasts major industry partners including Fireblocks, Chainalysis, BCB Group, Skynet Trading, and more.

Jesper Johansen, Founder and CEO of Northstake, said: “NEAR’s ecosystem has an admirable ethos which complements the Web3 industry: it is committed to openness, sustainability, and a vision that prioritizes placing data and technology at the service of humanity. Having established itself as a compliant and secure virtual asset service provider to multiple institutions, Northstake is now proud to support the rapid development of the NEAR network as a validator. This collaboration paves the way for increased opportunities for our growing clientele to interact with, invest in, and benefit from NEAR’s fast-growing ecosystem.”

By partnering with NEAR, Northstake is actioning its commitment to the highest industry standards of security and regulatory compliance. Built on the Blockchain Operating System (B.O.S), an open-source platform that gives developers the ability to build on any blockchain using familiar languages and a broad set of components, the NEAR Protocol supports an ecosystem of varied and vibrant projects building decentralized solutions.

Claudio Cossio, co-founder of Meta Pool DAO, said: “We have found in Northstake a great node operator partner, bringing expertise in running secure and robust infrastructure to support individuals, organizations, and projects building on the NEAR Protocol blockchain.”

Northstake is a fully regulated investment provider under the Danish Financial Supervisory Authority and the 5th EU Anti-Money Laundering Directive. Its mission is to enable professional clients to participate in staking, with minimal counterparty risk and full collateralization of investments. Northstake adheres to the highest possible standards to minimize legal and counterparty risks through anti-money laundering measures and audited proof of assets staked. Furthermore, Northstake protects all client funds using the multi-party computation (MPC) provided by Fireblocks.

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