Balance Becomes First North American Custodian to Offer Lido V3 Access
On March 25, 2026, digital asset custodian Balance announced an integration that provides its institutional clients in Canada and the United States with direct access to Lido V3 stVaults. The connection, facilitated by Northstake's Staking Vault Manager (SVM), marks the first time a North American qualified custodian has offered this specific service, creating a crucial gateway for regulated capital to enter the Ethereum staking ecosystem.
Through its subsidiary Balance Trust Company, the firm enables asset managers and other accredited investors to stake Ethereum (ETH) and mint liquid-staked tokens like stETH or wstETH directly from their secure custody accounts. This workflow solves a critical dilemma for institutions, allowing them to earn staking yield without sacrificing liquidity or compromising strict custodial security requirements.
stVaults gives institutions something they couldn't get before: the ability to stake on their own terms without sacrificing liquidity. That's a meaningful shift, and we expect it to accelerate.
— Kean Gilbert, Head of Institutional Relations at Lido Ecosystem Foundation.
New Infrastructure Arrives as Lido's 2025 Revenue Fell 23%
For years, regulated financial institutions largely avoided direct Ethereum staking due to unclassified technical risks and a lack of compliant infrastructure. The Northstake and Balance partnership is designed to provide the "full-stack layer" necessary to attract this cautious capital, combining enterprise-grade tooling with regulatory alignment. This solution aims to reverse a challenging trend for the liquid staking market.
This institutional push follows a difficult period for the sector's leader. In 2025, Lido reported total revenue of $40.5 million, a 23% decrease from the $52.4 million earned in the prior year. The decline was attributed to staking outflows, reduced network-wide staking rewards, and rising competition. The protocol's treasury also shrank by approximately $14 million to $157.5 million. The new infrastructure provides a pathway for attracting a more stable, long-term institutional capital base to improve these metrics.
Lido DAO Considers Buyback as Staking Market Evolves
In response to shifting market dynamics, the Lido DAO is evaluating a proposal to initiate an LDO token buyback program using a portion of its protocol staking rewards. The plan, expected to be considered in the second quarter of 2026, would use protocol-generated revenue to purchase LDO tokens from the open market, potentially to deepen liquidity for key trading pairs. This strategic consideration reflects an effort to enhance tokenomics and drive value as the staking landscape becomes more competitive and institutionally focused.
