UK-based digital prime broker GCEX has extended its partnership with crypto custodian Hex Trust to include staking.

GCEX launched its institutional staking service in April, targetting brokers, fund managers, hedge funds and professional traders.

Asa result of the partnership with Hex Trust, a further nine crypto assets will be eligible for staking.

Staking allows market participants to commit their crypto assets to support the operation of a blockchain in exchange for financial reward, in the same way, that securities lending works in traditional finance.

Staking has become of increasing interest to institutional investors looking for additional revenue. Last week, Zodia Custody launched an institutional staking service.

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