Cross-ecosystem Platform Evmos Partners With Anchorage Digital to Offer Custody and Staking

Evmos, the connector of the Cosmos and Ethereum blockchains, is teaming up with crypto custody firm Anchorage Digital to offer access and staking of its native token, EVMOS.

The partnership between Anchorage and Evmos aims to bring the inter-blockchain communication protocol to investors and garner more institutional adoption.

This follows last week’s announcement of Evmos raising $27 million in a token sale led by Polychain Capital. That funding was slated towards hiring more engineers as well as building out decentralized applications (dapps) on Evmos.

“Part of Evmos’ mission is to bring Ethereum into Cosmos,” Evmas co-founder Akash Kholsa told CoinDesk. “But then another part of that is to sort of expand the functionality of what you can do with Ethereum-based applications.”

Read more: Evmos, Connector of Cosmos and Ethereum Blockchains, Raises $27M in Token Sale

Evmos is an EVM-compatible blockchain in the Cosmos ecosystem. EVM stands for the Ethereum Virtual Machine, the software that runs smart contracts on Ethereum. Evmos’ EVM-compatibility means that developers are able to launch dapps that are interoperable across the Cosmos and Ethereum ecosystems.

“We’ve seen a great deal of interest in Cosmos’ ecosystem assets and interoperability networks like Evmos, especially where staking early counts” said Diogo Monica, president and co-founder of Anchorage Digital. “As the digital asset ecosystem continues to grow, cross-chain networks like Evmos are playing an increasingly important role by making it easier to transact and communicate across distinct blockchains.”

Read more: Evmos Looks to Jump-Start Ethereum–Cosmos Interoperability With Airdrop, Mainnet Launch