Staking Rewards is a crypto comparison portal from Switzerland. With fresh capital from seed funding, the start-up is pursuing ambitious goals.
The Crypto comparison portal Staking rewards is happy about financially strong support. The Swiss start-up announced this in a press release that BTC-ECHO has received. Accordingly, the young company concluded its seed financing round today. Directed by Swiss Founders Fund (SFF), A&T Capital, Fenbushi Capital and some angel investors took part in the funding. So far nothing is known about the exact amount. Compared to BTC-ECHO, CEO Mirko Schmiedl spoke of a “high six-figure amount”.
The press release says that the new capital will be used to scale and further develop the platform. The first step is a new staking and DeFi service provider directory, with which Staking rewards wants to offer its users increased transparency and security. In addition, users should be able to get in touch with the respective staking provider more easily. The start-up is also establishing a reward system in which active users receive the native HEARTS token of the crypto platform for writing reviews and answering questions. These are required, among other things, to use special functions within the platform. Mirko Schmiedl says:
Staking Rewards acts as a trust pilot for crypto. With the right incentives for crypto investors, we establish a community that helps each other to navigate through the numerous staking and DeFi return opportunities.
Mirko Schmiedl, Co-Founder and CEO at Staking Rewards
In addition, the company plans to expand into China and other Asian countries in the long term.
Staking Rewards: “China’s Crypto Ban Doesn’t Affect Us”
The current crypto ban for financial service providers in the Middle Kingdom does not affect the start-up, however, says the Staking rewards CEO towards BTC-ECHO. Because the platform does not operate its own staking, the ban does not affect the Swiss company.
It won’t affect us. We plan to build a stronger presence in Asia and China by the end of the year. With A&T and Fenbushi we have strong partners. We are also already working with several other Chinese and Asian projects and providers. Hashquark, Moonstake, Bytom, and many others, among others.
Mirko Schmiedl opposite BTC-ECHO
In addition, the Chinese providers are with whom Staking rewards cooperates, not affected by government restrictions, says Schmiedl and continues:
I think the ban is more aimed at banks. And that’s nothing new. Chinese crypto exchanges have not existed for years. They all moved abroad. It was foreseeable that Chinese banks should not become crypto exchanges now. That’s why I think that the latest Bitcoin China ban is actually just warming up cold porridge a bit.
Mirko Schmiedl opposite BTC-ECHO
In the meantime, China is gradually extending the crypto restrictions to include mining. As a result, more and more companies are leaving the country. Recently, for example, three companies, Huobi Mall, Hashcow and BTC.TOP, announced that they would discontinue their services for Chinese customers and concentrate on other countries.