According to CoinDesk, cryptocurrency brokerage sFOX is now offering customers commission-free access to blockchain staking directly from regulated custody, without the risks associated with transferring ownership of their coins. The company has developed a software layer designed to make staking easy for professional users, high-net-worth individuals, hedge funds, and similar clients. These users can store their staked crypto in Wyoming trust company accounts, which provide complete segregation and protection of customer funds in the event of company bankruptcy.
sFOX founder Akbar Thobhani stated in an interview that the company is providing a gateway to staking without stepping in the middle or taking any revenue or profit. Customers can stake directly with the blockchain and receive rewards directly from the blockchain, unlike some other staking projects where ownership of assets is transferred and third parties can make decisions on how to stake or lend those coins. The focus on segregated, bankruptcy-protected, and regulated custody comes in response to the collapse of various crypto companies last year. The sFOX staking product aims to increase innovation by allowing portfolio managers to stake the same crypto on which they hold open positions on the platform. Thobhani emphasized the importance of bringing transparency to the crypto space and rethinking the current approach.