Previously, institutional investors did not stake their cryptocurrency or participate in governance because of the need to use crypto-custodians. Coinbase Custody is changing that with support for Tezos staking and MakerDAO governance for its institutional clients.
On Mar. 29th, Coinbase announced support for Tezos (XTZ) baking, the protocol’s equivalent to proof-of-stake staking. “We’re proud to be the first full-service, regulated, and comprehensively insured, and 100 percent offline staking provider in crypto,” said the release.