Crypto Garage, the leading regulated institutional digital asset infrastructure in Japan, has just announced the addition of Kiln’s staking products to extend their staking offerings.
Starting with ETH, we’re excited to enable Crypto Garage to diversify its staking options and ecosystem, by adding Kiln as a trusted and vetted staking technology provider. This comes through the use of the Kiln Dashboard and enterprise-grade Validators within their own custody platform.
This partnership will be beneficial for both Crypto Garage and their clients, who can now leverage Kiln’s infrastructure to engage in Ethereum staking.
Why did Crypto Garage choose to work with Kiln?
Kiln Dashboard makes it effortless for Crypto Garage to operate and manage staking operations at scale and with ease. Acting as a back-office staking interface, the Kiln Dashboard enables Crypto Garage’s operations team to deploy validators in a few clicks and to get reporting data for their customers' stakes.
As a regulated crypto asset financial services company, Crypto Garage chose Kiln for its strong track record, managing more than $2b worth of staked ETH flawlessly for years. Kiln now runs about 3% of the total staked ETH on the network, and actively contributes to the Ethereum ecosystem by participating in Ethereum Foundation fellowships, publishing content, and open-sourcing tooling (such as the Ethereum Validator Watcher most recently).
Besides this, being an SOC 2 Type II certified company is a guarantee of Kiln's continuous commitment to security and compliance best practices, meeting the needs of regulated players like Crypto Garage and their demanding institutional clients.
'We initially learned about the Kiln staking suite through one of our other partners, Ledger, and were astonished by the simplicity of the service. While enabling a complete set of features, from programmatic staking to reporting. We’re happy to have Kiln as a staking provider and look forward to further collaboration on more protocols and staking options.' — Justin Dhingra, Chief Strategy Officer at Crypto Garage
‘We are thrilled to be working with Crypto Garage, a leading player in the Japanese crypto ecosystem. We are looking forward to a long and fruitful partnership, with many additional assets and staking products to launch together in future!.’ — Laszlo Szabo, CEO and Co-founder of Kiln
Understanding the staking opportunity
In PoS blockchains, staking consists of locking native tokens to earn the right to help secure the chain via a validator. Validators review and approve blocks proposed by other validators, as well as bundle transactions together to propose new blocks when selected to do so. Through these activities, validators earn rewards for stakers who commit part of their assets.
Staking is therefore considered to be the most natural way to earn rewards in the crypto space as rewards stem from helping decentralize and secure the chain. Rewards are paid out from protocol inflation and a share of transaction fees.
By staking, token holders can earn rewards and grow their digital asset holdings. Staking plays a crucial role in network security, governance, and contributes to the growth of the Web3 ecosystem as a whole.
About Crypto Garage
Crypto Garage is a Japanese regulated crypto asset financial services company serving institutions based on blockchain technology. We navigate the intersection of financial services for digital assets and blockchain development to accelerate crypto adoption for institutions.
About Kiln
Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake assets, and to whitelabel staking functionality into their offering. Kiln runs validators on all major PoS blockchains, with over $2.2b worth of stake under management, and over 3% of the Ethereum network, running on a multi-cloud, multi-region infrastructure. Kiln also provides a validator-agnostic suite of products for fully automated deployment of validators, and reporting and commission management, enabling custodians, wallets and exchanges to streamline staking operations across providers. Kiln is also SOC2 Type 2 certified.
