Caladan, the institutional trading desk, has announced that it has added support for stETH as multi-currency collateral for its OTC trading platform. This will enable institutional clients to post Ethereum’s leading liquid staking token as collateral for more optimized liquidity logistics.
Caladan teams up with Lido to accept stETH as collateral
Caladan, a flagship market-making and trading platform, has shared the details of its latest collateral asset expansion. Thanks to the strategic collaboration with Lido Finance, it now accepts Lido Staked Ether (stETH) as collateral for all clients.
stETH introduction bolsters institutional adoption of decentralized finance, expanding the ways in which hedge funds, liquid funds and foundations can strategically deploy stETH within sophisticated capital management.
Its addition combines stETH’s deep liquidity and Ethereum staking rewards with the structure and risk frameworks expected by professional investors.
Julia Zhou, COO of Caladan, explained what is special about the integration of the new asset as collateral for Caladan's clients:
This is about unlocking new capital pathways. Instead of forcing institutional players to choose between yield and liquidity, we’re giving them both, as well as strategic optionality.
Unlike fiat or stablecoin collateral, which often sits idle, stETH continues to generate staking rewards, even when posted against active trading positions. This aligns with Caladan’s mission to deliver ecosystem-connected, capital-efficient solutions for institutions operating at the forefront of crypto markets.
More opportunities for sophisticated liquidity management
Kean Gilbert, Head of Institutional Relations at the Lido Ecosystem Foundation, expects more corporate clients to experiment with stETH opportunities:
Caladan’s integration shows why institutions are increasingly turning to stETH. 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.
Caladan’s integration reflects a broader trend for crypto-native funds, DeFi asset managers and DAO treasuries to hold stETH via Lido Institutional.
This enables them to maintain ETH exposure without the complexity of direct validator management while accessing deep liquidity across on- and off-chain markets. Many of these entities also actively provide liquidity, further embedding stETH into the core of the DeFi capital stack.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team