According to Odaily Planet Daily, institutional staking market Gyld Finance announced the completion of a $1.5 million pre-seed round of financing, led by Lightshift. According to reports, Gyld Finance was founded by Abbas Ali (former product director of JPMorgan Kinexys) and Ruchir Gupta (former head of treasury and options trading at GSR). It is developing regulated financial market infrastructure to transform staking rewards into a tradable institutional asset class. Gyld has begun a pilot with Figment as its first staking provider and is now recruiting selected early adopters - including asset management companies, trading companies, and digital asset vaults. (Investing)