Bitmine has launched MAVAN, a new Ethereum staking platform aimed at institutional clients, as demand for large-scale validator services continues to grow.
The MAVAN platform expands Bitmine’s staking operations beyond its own holdings, allowing outside institutions and custodians to stake their Ether through its infrastructure.
Staking lets users lock up Ether to help run the Ethereum network and earn rewards in return.
Bitmine, one of the largest public holders of Ether, already has over 3.1 million ETH staked. The company said it plans to move more of its holdings onto MAVAN while onboarding new clients in the coming weeks.
The platform will run on US-based infrastructure supported by a global network, and Bitmine plans to expand it to other blockchain networks in the future.
The move comes as institutional demand for secure and compliant staking services continues to rise, with more firms looking to earn yield on their crypto holdings.
Featured image from: cointelegraph.com