Caladan Integrates stETH as Institutional OTC Collateral
Caladan, an institutional OTC desk handling over $50 billion annually across 65+ exchanges, now accepts stETH - Ethereum’s largest liquid staking token issued via the Lido protocol - as collateral across its options and structured-product desks.
Hedge funds, crypto-native trading firms, and foundations can now use stETH as collateral for sophisticated options, hedging, and short-term positioning strategies. Crucially, institutions retain full liquidity and continue receiving Ethereum staking rewards even as they strategically deploy their assets.
Institutional adoption driven by deep liquidity
Institutional adoption of liquid staking tokens continues to accelerate, with stETH now representing over $30 billion in ETH staked via the Lido protocol. Broad integrations across decentralized finance (DeFi), OTC desks, and major custodians - including Fireblocks, Copper, and BitGo - further reinforce stETH’s position as the institutional standard for liquid staking.
Caladan’s addition of stETH simplifies previously complex processes for institutions aiming to incorporate liquid staking into structured trading, risk management, and treasury operations.
Key Benefits of Using stETH Collateral with Caladan
- Receive staking rewards and maintain liquidity: Keep ETH staked and receiving rewards while deploying it as collateral.
- Streamlined operational integration: Caladan simplifies operations, making stETH easy to integrate into sophisticated institutional trading strategies.
- Institutional-Grade Trading Infrastructure: Leverage Caladan’s extensive OTC network, executing over $50 billion annually across 65+ exchanges, enabling efficient and scalable deployment of stETH collateral.
“This is about unlocking new capital pathways,” said Julia Zhou, COO of Caladan. “Instead of forcing institutional players to choose between yield and liquidity, we’re giving them both, as well as strategic optionality.”
“Caladan’s integration shows why institutions are increasingly turning to stETH," added Kean Gilbert, Head of Institutional Relations at the Lido Ecosystem Foundation. "They gain access to market-leading liquidity, Ethereum staking rewards, and decentralized infrastructure through the Lido protocol - all key ingredients for strategically deploying ETH holdings.”
This integration is another meaningful step forward for institutional adoption of liquid staking. With proven liquidity, extensive institutional adoption, and decentralized infrastructure, stETH is fast becoming a core component of efficient treasury management.
For more information on utilizing stETH collateral with Caladan, please contact the Lido Institutional team.
About Lido Institutional
Lido Institutional represents a dedicated group of contributors focused on advocating for the use of Lido protocol’s open-source, liquid staking middleware by non-retail users. Lido middleware provides a way to participate in the blockchain network validation process and get staking rewards for this activity. With a mission to democratize staking, Lido middleware lets users connect with node operators and stake their digital assets without the need to individually maintain hardware. For further information, please visit lido.fi/institutional.
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