Staking Rewards secures CHF 3 million

Today, staking generates an estimated $9 billion of revenues1, but investors and asset managers have few independent data sources when it comes to understanding and evaluating staking yields, service providers, and staking related investment products. With over 4.7M page views per month, StakingRewards.com is meeting this market need through its independent data aggregator and research platform for crypto interest rates with the core focus on Proof-of-Stake (PoS) Protocols, which enable passive returns through staking.

Since its establishment in 2020, the platform, operated by St. Gallen based Finrate AG, has built a loyal user base that references StakingRewards.com as a source for reliable data and information around passive income streams within crypto.

Staking Rewards’ explosive user growth rate throughout 2021, combined with the strong brand and unique positioning around staking, fuelled the interest of leading digital asset investment firms. Galaxy Digital, CoinShares, and Digital Currency Group (DCG) collectively manage over $50 billion of crypto assets on behalf of a global investor base. In addition to their investment, they are actively collaborating with StackingRewards on integrating staking into their product suite.

 “I have been following the Staking Rewards team since I began using their site in early 2018, and our team at CoinShares has been looking for a reputable partner to support our ambitious plans for staking related products and services. We see a great opportunity to work closely together as a partner when it comes to research, data, and product development in the staking space,” commented Meltem Demirors, Chief Strategy Officer of CoinShares.

Further participants in the round include1kx Capital and Sygnum Bank, along with angel investors including early CoinMarketCap team members. To date, Staking Rewards has raised a total of CHF 4M, and the 2020 pre-seed round was led by Swiss Founders Fund and A&T Capital.

This fundraising round comes at a pivotal time for Staking Rewards. The staking industry has grown over 1,550% in the last 12 months, according to a recent report by Staking Rewards, and 19 out of the 20 largest smart-contract platforms are already based on some sort of Proof-of-Stake consensus mechanism, with the $500B Ethereum network planning to migrate to Proof-of-Stake in the next year.

(Press release/RAN)