Gemini launches institutional Solana staking

Gemini, a leading cryptocurrency exchange, has announced the launch of Solana staking for institutional investors. The crypto exchange said in a blog post on Monday that Solana staking was now live for clients of its institutional clients platform, a move that marks a significant expansion of the exchange’s services for institutional investors. This move comes amid a surge in global interest in blockchain technology and decentralized finance, with Gemini positioning itself as a key player in providing secure and accessible cryptocurrency solutions. Notably, on-chain data shows more than $85 million in assets were bridged from other blockchain networks to Solana in the past week. Meanwhile, the total value locked on Solana stands at over $11.3 billion . SOL’s odds of an ETF approval also stand at 95%, experts recently noted. Solana staking goes live for Gemini Institutional customers The newly launched Solana staking service is now live for Gemini Custody customers, enabling institutional clients to stake SOL directly through the platform. “Solana Staking is now live for Gemini custody clients,” Gemini Institutional posted on X. “We’re expanding institutional access to the Solana ecosystem. ETFs, corporations, and high net worth individuals can now stake SOL directly from Gemini Custody.” What to know Users can tap into the offer to earn staking yield on Solana , while leveraging the robust security the platform offers via segregated, cold storage wallets in Gemini Custody. Also, SOL staking for institutional investors on Gemini comes a month after the exchange introduced retail staking with up to 6% APR on Solana. “The ability to stake SOL via Gemini Custody while maintaining control over our validator selection is a game-changer. It allows us to align our staking strategy with our infrastructure and ecosystem partnerships, all without compromising on custody security,” said Parker White, CIO & COO, DeFi Development Corp. This expansion aligns with Gemini’s mission to provide innovative and secure cryptocurrency solutions, reinforced by its reimbursement policy for staking penalties, which fosters client trust. Commenting on the launch, Vlad Tasevski, chief innovation officer at Purpose Investments, said: “Partnering with Gemini to offer Solana staking reinforces our leadership in the Canadian market and showcases how trusted infrastructure and product innovation can work together to deliver secure crypto yield solutions to investors.” SOL price outlook As Solana’s ecosystem continues to grow, supported by Gemini’s robust offerings, the cryptocurrency’s trajectory could see significant momentum, making this launch a pivotal moment for institutional crypto engagement in 2025. Staking could therefore be one of the new catalysts for the price outlook of Solana (SOL), with the potential for stability and growth in the coming months. SOL currently trades around $145, gaining by about 8% in the past 24 hours. The post Gemini launches institutional Solana staking appeared first on Invezz

Source: Invezz