Galaxy's Custodian GK8 Enables Secure Custody for Lido's stETH Protocol

According to Lido's official blog, Galaxy's institutional custodian GK8 now supports secure custody and minting of stETH, which represents 25% of staked ETH with over $30 billion TVL.

ETH
STETH

Summary

PANews reports that Lido's official blog announced Galaxy's institutional custodian GK8 now supports custody for Lido's stETH protocol. This update enables clients to securely custody and mint stETH without additional intermediaries. stETH represents roughly 25% of all staked ETH and over $30 billion in total value locked.

Terms & Concepts
  • stETH: A token representing staked ETH on Lido's protocol, reflecting a significant portion of locked Ether.
  • custody: A service that ensures the secure storage and management of digital assets.