Blockchain Startup Bison Trails Extends Collaboration With Crypto Custodian Coinbase Custody
Based in New York City, Bison Trails provides an easy-to-use platform to launch and run highly-available nodes on any blockchain network effortlessly. It offers geographically distributed infrastructure for the pioneers of tomorrow, to secure networks, and enable the entire blockchain ecosystem to flourish.
Launched in 2018, Coinbase Custody offers clients access to the secure, institutional-grade offline storage solution that has been used by Coinbase’s exchange business since 2012. Coinbase Custody has been approved by the New York State Department of Financial Services (NYDFS) as a qualified custodian firm for cryptocurrencies. It services a range of customers including institutions, hedge funds, initial coin offerings (ICO) and cryptocurrency exchanges.
The partnership combines Coinbase Custody’s institutional-grade offline storage solution with the Bison Trails infrastructure platform. It will allow Coinbase Custody clients to seamlessly stake CELO, the utility and governance token that enables participation on Celo’s mobile-first, Proof-of-Stake (PoS) blockchain network and delegate their stake to Bison Trails’ enterprise-grade validators without leaving the Coinbase Custody interface.
“We’re focused on lowering the barriers to participation in blockchain networks. By extending our integration with Coinbase Custody to Celo, we are improving the user experience of staking securely,” said Joe Lallouz, CEO of Bison Trails. “As a member of Celo’s Alliance for Prosperity, we’re also deeply committed to Celo’s success, the security of the network, and enabling more people to participate easily.”
Founded in 2018, Celo is a decentralized Proof-of-Stake (PoS) protocol that allows anyone to securely send stable-value digital assets to any phone number, anywhere. Celo’s ultralight client is over 17000x lighter than other networks and enables any smartphone, even with limited internet connectivity, to quickly and easily sync with the network. Through the recently announced Celo tTBC bridge, Bitcoin will become easily accessible to the 6 billion smartphone users worldwide in a permissionless and non-custodial way on Celo. By focusing on ease-of-use (e.g. by allowing ERC20-like tokens to be used for transaction fees) and targeting the everyday user, Celo and its growing DeFi community are helping to make a new financial infrastructure accessible to all.
“The extension of the Bison Trails’ integration with Coinbase Custody to include CELO represents a growing interest for effortless ways to stake on new networks among institutional investors,” said Sam McIngvale, Head of Coinbase Custody. “Working alongside the Bison Trails team, we have been able to successfully offer support for some of the most popular assets, and are excited to welcome CELO to the Coinbase Custody community!”
Customers of both Coinbase Custody and Bison Trails will be able to select their Bison Trails validator via the Coinbase Custody interface. This integration represents another milestone in the collaboration between Coinbase Custody and Bison Trails, following news of an inaugural launch to enable secure Polkadot (DOT) staking and Solana (SOL) staking to validators on the Bison Trails platform. Users can seamlessly participate in securing Celo, Solana, and Polkadot in just a few clicks and start earning participatory rewards.