Bitcoin Suisse Joins Liquid Collective to enable Ethereum Liquid Staking
Jan 31, 2023 - 6 min read
Zug, January 31, 2023 – Bitcoin Suisse, the Swiss crypto-native pioneer and trusted gateway to crypto asset investing, announced today it has joined Liquid Collective, the enterprise-grade liquid staking protocol built and run by an independent collective of leading Web3 teams.
Once live, Bitcoin Suisse’s clients will have the ability to stake Ethereum (ETH) through Liquid Collective and use the receipt token generated by the Liquid Collective protocol (LsETH) to participate in Web3 and Decentralized Finance (DeFi). Liquid staking represents an alternative to the known staking mechanism, where a user’s tokens are locked up for a period of time to contribute to the security of Proof-of-Stake blockchains and earn network rewards for doing so.
Traditional methods of staking are subject to lockup periods, ranging from a number of days to several weeks. In liquid staking, token holders stake their token and receive a receipt token, which evidences ownership of the underlying staked token plus the staking rewards it has accrued, minus any penalties and fees. The receipt token can be transferred, stored, traded, and utilized in DeFi or supported decentralized applications (dApps), providing participants with increased liquidity and capital efficiency.
“Institutional and private clients are increasingly looking to participate in staking to earn network rewards. Staking also involves blockers of participation, the largest two being illiquidity windows and the lock-up of staked tokens - mechanisms that primarily exist to preserve network security and integrity,” stated Bitcoin Suisse Chief Product Officer Michael Gauckler. ”Liquid staking is an innovation that addresses these blockers of participation, providing users with higher capital efficiency and liquidity, while preserving the network’s security features. With this new partnership, Bitcoin Suisse is further advancing the institutionalization of crypto-financial services for our clients and the benefit of the crypto ecosystem”.
Liquid Collective is a decentralized protocol developed in collaboration with a diverse group of industry leaders to meet the need for a multi-chain liquid staking standard that can be widely adopted, meanwhile increasing liquidity and composability for the Web3 economy. The protocol, which will launch with Ethereum staking, aims to meet institutional compliance needs while setting the standard for performance and security.
“Bitcoin Suisse joining Liquid Collective will expand the protocol’s access to the Swiss market, furthering our vision to empower global participation in securing the decentralized internet,” said Alluvial Co-Founder and CEO Matt Leisinger. Alluvial is the company supporting the Liquid Collective protocol’s development. “We are thrilled to collaborate with the Bitcoin Suisse team to unlock more participation in liquid staking with institutions in Switzerland and within Europe”.
Bitcoin Suisse is the first Swiss-incorporated Liquid Collective Integrator focused on targeting the Swiss market. Integrators, including trading venues and custodians, provide a seamless on-ramp for Liquid Collective’s stakers to participate. Users who have been identified based on Know-Your-Customer (KYC) standards are able to utilize an Integrator’s services to deposit to Liquid Collective and mint LsETH-Tokens. Find out how it works here.
About Bitcoin Suisse
Founded in 2013, Bitcoin Suisse Ltd is the Swiss crypto-finance and technology pioneer and market leader. As an enabler for the crypto and blockchain ecosystem in Switzerland, Bitcoin Suisse has been a driving force in the development of the 'Crypto Valley' and the 'Crypto Nation Switzerland'. The crypto-financial services provider offers brokerage, custody, lending, staking, payment solutions and other crypto-related services for private and institutional clients. As a member of the self-regulatory organization Financial Services Standards Association (VQF), Bitcoin Suisse is a financial intermediary subject to Swiss AML/CFT regulations. Bitcoin Suisse consists of several companies under the parent company BTCS Holding Ltd. The company is headquartered in Zug and has built a team of over 250 highly qualified experts in Switzerland and Europe. | https://bitcoinsuisse.com/
About Liquid Collective
Liquid Collective is the secure liquid staking standard: a protocol with multi-chain capabilities, built and run by a collective of leading web3 teams. Developed in collaboration with a diverse group of industry leaders, Liquid Collective is designed to meet the need for an enterprise-grade decentralized liquid staking standard that can be widely adopted, increasing liquidity and composability for the web3 economy. | liquidcollective.io
Alluvial is the software development company supporting the development of the Liquid Collective protocol. Alluvial is focused on the overall growth and maturity of the ecosystem by bringing in more institutional participants to participate in proof of stake blockchains, combining institutions' technical and security requirements with the web3 ethos of community-driven collaboration. | https://alluvial.finance
The information provided in this document pertaining to Bitcoin Suisse AG and its Group Companies (together "Bitcoin Suisse") is for general informational purposes only and should not be considered exhaustive and does not imply any elements of a precontractual or contractual relationship nor any offering. This document does not take into account, nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. While the information is believed to be accurate and reliable, Bitcoin Suisse and its agents, advisors, directors, officers, employees, and shareholders make no representation or warranties, expressed or implied, as to the accuracy of such information, and Bitcoin Suisse expressly disclaims any and all liability that may be based on such information or errors or omissions thereof. Bitcoin Suisse reserves the right to amend or replace the information contained herein, in part or entirely, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient hereof. The information provided is not intended for use by or distribution to any individual or legal entity in any jurisdiction or country where such distribution, publication or use would be contrary to the law or regulatory provisions or in which Bitcoin Suisse does not hold the necessary registration, approval, authorization or license, in particular in the United States of America including its territories and possessions. In particular, Bitcoin Suisse is not registered, with the U.S. Securities and Exchange Commission as a broker-dealer under the U.S. Securities Exchange Act of 1934, as an investment adviser under the U.S. Investment Advisers Act of 1940, or with any other competent authority under any applicable federal or state laws in the United States of America. Therefore, Bitcoin Suisse does not offer any services to “U.S. Persons”, as defined under applicable U.S. laws. This material is not intended for U.S. Persons and does not constitute a solicitation of any offer to U.S. Persons. Except as otherwise provided by Bitcoin Suisse, it is not allowed to modify, copy, distribute, transmit, display, reproduce, publish, license, or otherwise use any content for resale, distribution, marketing of products or services, or other commercial uses. Bitcoin Suisse 2023.