Boerse Stuttgart Digital, the crypto-focused arm of the Stuttgart Stock Exchange, plans to introduce a fully insured cryptocurrency staking service next year, a company spokesperson told CoinDesk.
As part of the development, global reinsurance company Munich Re has crafted an insurance product dedicated to reducing risks of slashing, the companies announced in aTuesday. Slashing stands for penalizing validators in a proof-of-stake blockchain for violating network rules or malicious activity with suspended or lost staked tokens.
This is the latest example of well-established financial institutions building out their crypto chops as the digital asset industry matures and increasingly intertwines with traditional investment services.
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