P2P.org Raises $23mn From Institutional Investors
P2P.org, a staking service provider, has raised $23 million in funding from Web3 investor Jump Crypto, crypto exchange Bybit, and digital asset bank Sygnum.
P2P is working on a new infrastructure platform geared towards intermediaries, as opposed to its current service, which is geared towards direct holders.
The company is attempting to capitalise on the recent Shanghai upgrade of the Ethereum network, which allows users to withdraw “staked” assets.
The Shanghai upgrade, also known as Shapella, is expected to increase institutional interest in Ethereum due to the increased liquidity it generates.
P2P says it will use the funding to develop blockchain infrastructure that enhances the user experience in staking as well as researching and developing expansion initiatives.
(With inputs from Shikha Singh)
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