Wintermute Now Accepts Lido stETH as OTC Collateral
CryptoNewsTerminal Staff11 Sep, 2024
Wintermute Now Accepts Lido stETH as OTC Collateral
Wintermute, a leading cryptocurrency market maker and trading firm, has announced its support for Lido's stETH as OTC collateral. This move allows users to stake ETH with Wintermute and earn rewards, while Wintermute can use stETH as OTC collateral to improve trading efficiency in inter-institutional transactions. Lido is a cryptocurrency staking platform that allows users to stake their ETH and earn rewards without having to run their own validator node. stETH is Lido's liquid staking token, which represents staked ETH. stETH can be traded on exchanges, allowing users to access the value of their staked ETH without having to wait for the unstaking period to end. Wintermute's support for stETH as OTC collateral is a significant development for the cryptocurrency industry. It provides users with a new option for staking their ETH and earning rewards, while also giving Wintermute access to a new source of collateral for its trading operations.
