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Crypto Giants Back $3.2M Round for Data Provider Staking Rewards

Galaxy Digital, Digital Currency Group and CoinShares co-led the investment round.

By Brandy Betz
AccessTimeIconNov 23, 2021 at 1:00 p.m. UTC
Updated May 11, 2023 at 4:06 p.m. UTC
(Shutterstock)
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Staking Rewards, a data provider for staking and crypto growth tools, has raised three million Swiss francs (US$3.2 million) in a funding round co-led by Galaxy Digital, Digital Currency Group and CoinShares. (Digital Currency Group is the parent company of CoinDesk.)

  • Staking Rewards will use the money to develop a new suite of products and services, including investible staking index products.
  • Founded in 2018, Staking Rewards provides data and investment tools for private and institutional investors interested in staking, a way to earn rewards by contributing cryptocurrency to a blockchain’s validation process. The products include live staking market data, portfolio and calculator tools and research analysis. Staking Rewards says its application programming interface (API) is being used by Coinbase and Bitcoin Suisse.
  • “This investment round will mark the next step for us to provide the highest quality data and research around staking, as well as building industry-leading financial products,” said Staking Rewards co-founder and CEO Mirko Schmiedl in a press release.
  • Galaxy Digital, Digital Currency Group and CoinShares are working with Staking Rewards to integrate staking into their respective product suites.
  • The funding round also included 1kx Capital and Sygnum Bank and several angel investors. Staking Rewards has now raised four million Swiss francs (US$4.3 million) to date.
  • “One of crypto’s strongest adoption drivers will be passive income opportunities and Staking Rewards is perfectly positioned to capture a large market of those,” said 1kx Capital Partner Christopher Heyman in the release.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz
    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.

    Follow @BrandyBetz on Twitter

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