Jump Crypto, Bybit, and Sygnum are among the investors who contributed to the $23 million Series A investment round for non-custodial staking service provider P2P.org. With the recently acquired funds, it intends to increase the number of Ethereum-related chains in its portfolio, including Celestia, Sui, and Aleo.
P2P.org Raises $23 Million in a Series A
According to a press release, the company also intends to develop its economic model, emphasizing fortifying the community, boosting consumer assistance, expanding the customer experience, and upgrading the current infrastructure.
The company attributes the recent Shanghai Upgrade, which it expects will stimulate institutional interest in staking Ethereum for a successful round of fundraising. According to Konstantin Lomashuk, the creator of P2P.org, institutional interest in staking on Ethereum has historically been lower when compared to that of other blockchains. However, the improvement has already led to a general surge in Ethereum staking.
“We are pleased to announce this fundraising round with our strategic investors. Now that the upgrade is complete and as the market continues to expand, we may expect ETH staking to grow significantly in market size.”
Lomashuk
What is P2P.org?
The company, which was established in 2018, offers the staking infrastructure for Cardano and Cosmos as well as 49 other blockchain projects. According to a press release, more than $1.3 billion worth of assets has been staked using the company’s institutional staking solutions, which include white label nodes and slashing insurance.
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