Northstake raises $3 Million pre-seed funding round led by PreSeed Ventures
We are excited to announce that Northstake has closed a $3 Million pre-seed Funding Round to further fuel our growth story. The round was led by European venture capital firm PreSeed ventures, with participation from Funfair Ventures, Delta Blockchain Fund, Morph Capital and The Aventures Fund. The new funding will enable our continued development of innovative solutions that grows the opportunities for institutional investors to participate in blockchain networks.
“Security and regulatory compliance is central to our products,” said Northstake CEO, Jesper Johansen. “As we see blockchain economies and digital assets grow, we will also see more and more regulations. Our staking products comply with common AML/KYC practices and laws and use leading MPC technology and infrastructure to hold and stake all funds in full compliance with current and future EU regulations (MiCA). By creating fully transparent and audited services and products, we welcome institutional investors into the economies of the future.”
To address the needs of increasingly popular digital economies, Northstake integrates fragmented technology and infrastructure services, such as, MPC-CMP wallet, node infrastructure, blockchain analytics into one staking product, which is audited and regulated with verified source of funds. At Northstake, all funds are held and staked in compliance with current AML laws and in-coming crypto regulation (MiCA). It ensures full control and ring-fencing of validator nodes and flow-of-funds to ensure operational security and regulatory compliance.
The proceeds will be utilized for the expansion of our product and service offerings, accommodating the escalating demand from institutional entities in the realm of digital assets and bolstering our team's capacity.
Kavita Gupta, Founder and General Partner in Delta Blockchain Fund and Advisor to Northstake, states, “At Delta Blockchain Fund, we are bullish on institutional staking services as it allows them to realise the full potential of holding crypto by earning passive income, supporting the network and holding tokens beyond just having them sit as the speculative asset on the balance sheet. Institutional staking services eliminate the risk of self-staking due to the lack of easy and secure self-management tools. Northstake, therefore, brings a higher level of security and compliance measures as it built out these services and will continue to innovate going forward.”
We extend our heartfelt appreciation to all individuals who have placed their trust, provided support, and collaborated with us thus far. This gratitude encompasses our valued clients, dedicated investors, esteemed partners, and our exceptional team. As we eagerly anticipate the forthcoming phase of our immensely thrilling voyage, we would like to express our excitement for what lies ahead.
Read the full article at CoinDesk: https://www.coindesk.com/business/2023/06/22/northstake-raises-3m-to-boost-institutional-crypto-staking/