Coinbase Custody Expands Bison Trails Integration to Add Staking Support for Celo
Bison Trails, the premier blockchain infrastructure-as-a-service company, announced it has expanded its integration with Coinbase Custody to add staking support for CELO, the utility and governance token that enables participation on Celo’s mobile-first, Proof-of-Stake (PoS) blockchain network.
Coinbase Custody clients will now be able to safely custody their CELO offline and delegate their stake to Bison Trails’ enterprise-grade validators without leaving the Coinbase Custody interface. Delegating stake enables customers to earn participatory rewards for helping to secure the Celo network.
“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.”
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Celo is an open platform that makes financial tools accessible to anyone with a mobile phone. The novel proof of stake network enables mobile-first access to DeFi and dapps. 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!”
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“Coinbase Custody’s institutional-grade offline storage solution is one of the most trusted in the industry,” said Pranay Mohan, Product Manager at cLabs. “Paired with Bison Trails’ stellar technology and team, this integration will allow CELO holders to seamlessly lock and vote with their stake, thereby earning rewards and contributing to the security of the Celo network.”
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.
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