Blockchain node network RockX has launched Bedrock, the world’s first anti-money laundering (AML) and know your customer (KYC) compliant institutional-grade Ethereum liquid staking platform.
- Bedrock is non-custodial, on-chain and independent, allowing regulatory requirements for institutions to engage in large-scale liquid staking with built-in KYC/AML processes to verify all clients staking more than 32 ETH, while giving retail stakers flexibility to retain anonymity.
- The solution, using industry-leading validator technology, enhances capital efficiency for institutions exploring staking, while addressing deep liquidity needs, transparency, security and compliance standards.
- Bedrock’s uniETH token allows stakers to receive a new token in place of their staked tokens representing their claim to the underlying staking pool and yield. The platform is designed to incorporate liquid staking solutions for more proof-of-stake blockchains in the future.
- As part of the launch, Amber Group, a leading digital asset manager, and lead investor in RockX, will be one of the platform’s first institutional clients, exploring new staking opportunities with Bedrock, enhancing product design, and expanding the reach of the staking solutions to the wider institutional market.
- Bedrock is planning to incorporate distributed validator technology – open-source protocols that decentralise the duties of many staking validators. This will allow stakers to collectively split validator keys required for staking between unrelated and untrusted nodes, an industry first that enhances decentralisation, fault-tolerance, and the overall health of the blockchain.
- The solution was built with compliance, transparency, and security in mind, ushering in a new age of staking for institutions.
- Bedrock addresses institutional clients’ needs for greater capital efficiency when staking assets while still adhering to many of the regulations surrounding decentralised finance.
- Recent developments in the global staking market have raised some uncertainty over the regulatory responsibilities of crypto companies. Current liquid staking solutions do not address the deep liquidity needs, transparency, security and compliance standards required for institutional liquid staking.
- Bedrock fills this void in the market and can help bring about new levels of transparency and security into the staking industry, leading to greater professionalisation and acceptance of crypto in financial markets.