Northstake Raises €2.8 Million for Regulatory-Compliant Staking Solutions for Institutional Investors

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By Erika Rosenstein

I had the privilege to meet Jesper Johansen, Northstake CEO, at the Nordic Blockchain Conference last year. He told me how he came up with the idea of starting a crypto asset service provider while building regulatory compliant staking products. Since then, Jesper and his team have continuously grown their company, adding new partners (mostly leaders in the blockchain industry) and reaching over $80M in assets staked in 2022.

Yesterday, Northstake announced the closing of a 2.8M EUR investment round. Read their press release below for more details.

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Northstake, a regulated Virtual Asset Service Provider pioneering a multi-chain institutional staking solution, announced today that the company received an investment of 2.8M EUR from PreSeed Ventures (DK), Morph Capital (DK), The Aventures Fund (DK), Funfair Ventures (UK) and Delta Blockchain Fund (US). The new funding will enable the continued development of innovation that grows the opportunities for institutional investors to participate in blockchain networks.

Building upon their successful crypto asset staking platform, which saw over $80M in assets staked in 2022, Northstake also announced today it will launch the first Ethereum Staking alternative investment fund of its kind in Europe that will simplify how institutional investors gain exposure to web3 in the coming weeks.

Traditional institutional investors have been slower to adopt the rapidly growing technologies enabled by the digital asset industry due to the complex legal, technical, and financial knowledge required to stake digital assets in compliance with current and future regulations. Northstake’s platform and compliance system operates in compliance with incoming crypto regulation in the EU (MiCA) and can adapt to the ever changing regulatory environment. The team will continue to work with regulators on developing crypto regulation in Europe, the Middle East and Africa (EMEA).

“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.

Kavita Gupta, Founder and General Partner of Delta Blockchain Fund and Advisor to Northstake, states, “At Delta, 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.”

Northstake is a Denmark-based company that hopes to attract more institutional investors to own a stake in the Ethereum blockchain, where continual development creates increasing opportunities. Northstake began in 2021 and has grown to a team of more than 15 people with deep industry expertise and experience from financial services (Saxo Bank), venture capital, crypto (Dai Foundation, MakerDAO, Coinify, Bitfinex), financial regulation (Deloitte), and technology (Accenture).

About Northstake A/S

Northstake A/S is a regulated Virtual Asset Service Provider (VASP, FTID: 17520) under DFSA and AMLD5. Northstake is pioneering a proprietary multi-chain crypto staking platform allowing financial instruments to be built on top and offer exposure to yield-bearing crypto assets. By removing the barriers to crypto and ensuring compliance within the current and future regulatory scope, investors may build yield-generating crypto products leveraging our platform and distribution model. Northstake simplifies the way institutional investors own a stake in web3.

For more information, please visit: https://www.northstake.dk/

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