Anchorage Digital has broadened its offerings within the Hyperliquid ecosystem by introducing HYPE staking on HyperCORE. This addition complements the existing custodial services for HYPE on HyperEVM.
Staking, which involves locking up cryptocurrency to secure a blockchain and earn rewards, is being facilitated through both Anchorage Digital Bank and Anchorage Digital Singapore, the latter of which possesses a Major Payment Institution license. The company also mentioned that users could access staking through Porto, its self-custody wallet.
In collaboration with Figment, a provider of staking infrastructure, Anchorage Digital will run the necessary validator infrastructure, as indicated in a Friday announcement.
With both custody and staking now operational on HyperEVM and HyperCORE, Anchorage Digital can support a more extensive array of activities across Hyperliquid, including providing access to its decentralized finance (DeFi) offerings through Porto and custody services for more HyperEVM tokens like Kinetiq.
Hyperliquid is a layer 1 blockchain that facilitates a decentralized exchange utilizing its unique architecture, divided between HyperEVM for Ethereum-like smart contracts and HyperCORE for native staking.
The recent development from Anchorage Digital occurs shortly after the announcement of a new partnership with Mezo, a DeFi platform specializing in Bitcoin-backed loans.
Institutional DeFi on the Rise
The latest actions by Anchorage Digital signify a growing trend of integrating DeFi infrastructure and yield-generating staking into institutional platforms, as various custodians and service providers start to deliver controlled access to staking and other on-chain facilities.
In October, Crypto.com announced that users could lend wrapped cryptocurrency and earn stablecoin yields through Morpho, a decentralized lending protocol, with plans to launch stablecoin markets this year. Similarly, Coinbase integrated Morpho support directly into its app, allowing users to lend USDC and earn significant yields without using external platforms.
A Binance Research report indicates that DeFi lending protocols have seen more than a 72% growth from January to September 3, driven primarily by increasing institutional use of stablecoins and tokenized real-world assets (RWAs).
