Singapore, July 29, 2025. Caladan, an institutional trading desk focused on capital efficiency, has added support for stETH as multi-currency collateral on its over-the-counter (OTC) trading platform. The integration enables institutional clients to use Ethereum’s leading liquid staking token as collateral for executing options strategies, managing hedging positions, and rotating capital.
The integration was carried out in collaboration with Lido Institutional and is designed to support the growing demand among professional investors for decentralized finance (DeFi) infrastructure that meets institutional standards. By incorporating stETH, Caladan offers clients access to Ethereum staking rewards and deep on-chain liquidity within a structured risk-managed environment.
“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.”
Unlike traditional fiat or stablecoin collateral, which often remains idle, stETH continues to accrue staking rewards, even when used to back active trading positions. This aligns with Caladan’s goal of providing capital-efficient, ecosystem-connected trading infrastructure for institutional participants in the crypto market.
“Caladan’s integration shows why institutions are increasingly turning to stETH,” said 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.”
The addition of stETH reflects a broader shift among crypto-native funds, DeFi asset managers, and DAO treasuries toward holding stETH via Lido Institutional. This approach allows institutional players to maintain ETH exposure without the operational burden of managing validators, while accessing liquidity across both centralized and decentralized venues. Many of these entities also contribute liquidity themselves, reinforcing stETH’s role in the foundational DeFi capital layer.
Caladan’s support for stETH represents a continued convergence of decentralized finance and institutional trading. By making yield-generating collateral directly usable within OTC workflows, the platform advances the evolution of a more unified and efficient digital financial system.
