Binance Custody has integrated Injective and the native INJ token in order to enable unprecedented institutional access for the Injective ecosystem. With this integration, Binance Custody also introduces its first ever staking feature by enabling staking support for the INJ token.
Binance Custody is a leading institutional-grade digital asset custody solution that features sophisticated cold and hot storage security alongside advanced liquidity solutions for institutions to manage digital assets seamlessly. This integration provides secure custody for the native Injective token (INJ) alongside the ability to support new CW20 tokens launched on the Injective L1. INJ is also the first asset that can be directly staked via Binance Custody, adding new opportunities for institutions to interact with the PoS Injective blockchain.
A Brief Background on Binance Custody
Binance Custody is an institutional-grade digital asset solutions platform that offers a growing suite of compliant, insured, and audited technology solutions including:
- Qualified Wallet: Institutional-grade cold vault storage. Qualified wallet is a segregated, secure and robust cold storage solution to protect digital assets
- Binance Mirror: Matches an institution’s cold storage custody funds with 1:1 availability on their Binance exchange account to access deep liquidity venues
- Cold Convert: Trade directly from Binance Custody's cold vault at competitive Binance OTC rates with no counterparty risk
Rapidly Growing Institutional Support for the Injective Ecosystem
Binance Custody is joining an unmatched institutional cohort in the Injective ecosystem.
Backed by a sophisticated infrastructure that serves as the foundation of its platform, Binance Custody offers its institutional clients best-in-class security. With this integration Binance Custody will allow users to store their INJ assets alongside new assets launched on the Injective blockchain. In addition, institutions can easily onboard onto dApps on Injective with new liquidity rails as well.
"The Binance Custody integration of Injective is a monumental step for the broader ecosystem as it introduces the Injective blockchain to an entirely new institutional audience. Now dApps launching on top of Injective can seamlessly secure new tokens launched on Injective with Binance Custody and attract more institutional clients in the process," said Injective Labs co-founder and CEO, Eric Chen.
Binance Custody further solidifies the major leaps Injective is making within institutional circles as illustrated by Injective’s support from major crypto institutions such as Brevan Howard Digital, Jump Crypto, Cumberland and many more.
“This is an important milestone for us. We’re thrilled to be launching this long anticipated feature with Injective as our first available staking asset,” shares Athena Yu, VP of Binance Custody. “Given the current climate, we can’t emphasize enough the importance of continuing to build innovative, security-first products that still provide clients with opportunities to make their assets work for them.”
The Binance ecosystem has been a leading supporter of Injective since day one. Injective was originally incubated by Binance Labs and later went on to Binance Launchpad. The integration with Binance Custody only further expands Injective’s global presence by providing an unmatched gateway for institutional onboarding.
Injective is an interoperable blockchain for building powerful DeFi & Web3 applications. Injective provides out-of-the-box orderbook and derivatives primitives needed to create mainstream DeFi apps. Smart contract enabled apps on Injective are natively compatible with Ethereum and Cosmos IBC while also being able to achieve instant transaction finality. INJ is the native deflationary scarce asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by Pantera Capital.
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About Binance Custody
Binance Custody is a regulated, compliant, institutional-grade custody infrastructure offering integrated custody solutions that address the security and operational challenges faced by institutions participating in the digital asset economy. Its multi-party computation (MPC) technology, combined with a customizable multi-approval scheme, provides bespoke solutions allowing institutional clients to safely store and manage their digital assets while also benefiting from its secure gateway to a wide range of liquidity products by way of its connectivity connection to the Binance ecosystem.