Digital asset staking service Lido Finance scores $70m

Lido Finance, which claims to offer simplified and secure staking for digital assets, has reportedly raised $70m in fresh funding.

Andreessen Horowitz served as the lead investor, according to a report from Coindesk.

The investment firm also used Lido portion of our ETH holdings on the Beacon chain.

Lido Finance lets users stake tokens on Ethereum, Terra, Solana and Kusama. Through its services, users can put their stakes to work through a variety of products, including 29 ecosystem applications.

Andreessen Horowitz is a seasoned investor into the cryptocurrency market. Last year, it led the $9m Series A funding round of crypto wallet Phantom. The FinTech company provides cryptocurrency holders with a mobile app to store, buy, send, receive, swap tokens and collect NFTs.

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