Crypto Custodian Aegis to Add Coverage of Lido's Staked Token Derivatives

Aegis’ end-to-end custody now includes liquid staking services through Lido for its institutional users wary of regulation.

AccessTimeIconJan 26, 2023 at 11:37 p.m. UTC
Updated May 9, 2023 at 4:06 a.m. UTC

Crypto custodian Aegis will offer custody for liquid staking derivatives issued by decentralized finance (DeFi) protocol Lido.

Aegis, which says it holds trust licenses in Hong Kong and and the U.S., offers custodial services for on-chain transactions, while Lido, the largest DeFi app by total value locked, provides staking services to users that want to access liquidity to their staked assets.

The partnership comes as interest in liquid staking derivatives increases, in part because of the Merge, or the Ethereum blockchain’s transition to a proof-of-stake (PoS) consensus mechanism.

Aegis’ end-to-end custody entails handling every aspect of digital asset management for users, which already included safe storage and fiat-to-cryptocurrency conversation. With the new Lido partnership, Aegis said clients can now participate in liquid staking.

Aegis CEO Serra Wei said the latest play stems from demand from family offices and regulation-sensitive businesses overall.

“Entities that are subject to regulations specifically want to access staking benefits and services through a secured gateway,” Wei said.

Additionally, by providing custody solutions for Lido’s digital assets, Aegis is able to increase the security of user’s digital assets, said Lido co-founder Vasiliy Shapovalov.

Aegis did not disclose how much capital is stored through its custodial services, while Lido has $8 billion worth of ether staked in its protocol.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Sage D. Young

Sage D. Young was a tech protocol reporter at CoinDesk. He owns a few NFTs, gold and silver, as well as BTC, ETH, LINK, AAVE, ARB, PEOPLE, DOGE, OS, and HTR.


Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about