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Northstake Becomes NEAR Validator Following $3 Million USD Raise

source-logo  blockster.com 10 November 2023 16:39, UTC

Copenhagen, Denmark — Northstake A/S, a reputable digital asset service provider headquartered in Denmark, is taking on a pivotal role as a validator for the NEAR Protocol. This move underscores Northstake's commitment to bolstering the security, validation, and expansion of the NEAR network, all while providing new opportunities for institutional investors to engage in crypto staking.

As a validator, Northstake will actively contribute to securing and validating transactions within the NEAR ecosystem. Simultaneously, it opens doors for institutional investors to participate in staking and earn rewards through NEAR tokens.

Northstake's impressive lineup of industry partners, including Fireblocks, Chainalysis, BCB Group, Skynet Trading, and others, highlights the significance of this strategic decision.

Jesper Johansen, Founder and CEO of Northstake, expressed his enthusiasm for the partnership:
“NEAR’s ecosystem has an admirable ethos which complements the Web3 industry: it is committed to openness, sustainability, and a vision that prioritizes placing data and technology at the service of humanity."

Jesper Johansen, Founder and CEO of Northstake
"Having established itself as a compliant and secure virtual asset service provider to multiple institutions, Northstake is now proud to support the rapid development of the NEAR network as a validator. This collaboration paves the way for increased opportunities for our growing clientele to interact with, invest in, and benefit from NEAR’s fast-growing ecosystem.”

By joining forces with NEAR, Northstake reaffirms its dedication to upholding the highest standards of security and regulatory compliance. NEAR Protocol, built on the Blockchain Operating System (B.O.S), provides a versatile platform for developers, enabling them to build decentralized solutions using familiar programming languages.

Claudio Cossio, co-founder of Meta Pool DAO, commended Northstake, saying, "We have found in Northstake a great node operator partner, bringing expertise in running secure and robust infrastructure to support individuals, organizations, and projects building on the NEAR Protocol blockchain."

Northstake, a fully regulated investment provider under the Danish Financial Supervisory Authority and the 5th EU Anti-Money Laundering Directive, is committed to facilitating professional clients' participation in staking while minimizing counterparty risk and ensuring full collateralization of investments.

The company places a strong emphasis on stringent anti-money laundering measures, audited proof of assets staked, and utilizes multi-party computation (MPC) provided by Fireblocks to safeguard all client funds.

About Northstake A/S

Northstake A/S is a highly regulated, custodial, virtual asset service provider offering compliant staking products for institutions. Based in Denmark, Northstake bridges the gap between traditional finance and the crypto world, simplifying and securing institutional investments in crypto. With its proprietary multi-chain crypto staking platform, Northstake empowers investors to participate in building the economies of tomorrow.

The company is regulated under the Danish Financial Supervisory Authority (DFSA) and the 5th EU Anti-Money Laundering Directive (AMLD5).

About NEAR Protocol

NEAR Protocol is a high-performance blockchain designed for speed, security, and scalability. The NEAR team comprises world-class engineers and business development experts who have built a blockchain mainnet recognized for its usability, scalability, and environmental sustainability.

NEAR Protocol has garnered support from leading investors such as a16z, Coinbase Ventures, Multi Coin Capital, and Hashed and manages an ecosystem fund of $800 million to further enhance the NEAR ecosystem.