Singapore, Singapore, May 22nd, 2025, Chainwire
mETH becomes the first liquid staking token to be held on the balance sheet of a publicly listed company.
Mantle, the largest sustainable hub for on-chain finance with over $3 billion in Total Value Locked (TVL), today announced a strategic partnership with Republic Technologies, the Ethereum (“ETH”) treasury of publicly listed Canadian company Beyond Medical Technologies Inc. (CSE: DOCT) (IBKR: DOCT) (FSE: 7FM). This partnership marks a major milestone in institutional cryptocurrency adoption, positioning Mantle’s mETH as the first liquid staking token to be held on the balance sheet of a publicly listed company.
Through the partnership, Republic Technologies plans to delegate a significant portion of its ETH holdings to Mantle’s mETH Protocol and will hold mETH as a yield-bearing, liquid staking token on its balance sheet. The collaboration underscores a structural shift in institutional digital asset strategy and growing investor conviction in Ethereum-native yield infrastructure, reflecting Republic Technologies’ deepening alignment with the Mantle ecosystem.
Republic Technologies: The First Publicly Listed Ethereum Treasury
Republic Technologies is establishing a new institutional paradigm by building a treasury strategy around Ethereum, seen as the foundational layer for smart contracts, tokenization, and decentralized financial settlement. In contrast to Bitcoin-focused strategies employed by firms like Strategy and Metaplanet, whose reserves are largely Bitcoin-based, Republic Technologies’ approach is anchored in Ethereum’s role as the infrastructure layer powering both blockchain innovation and real-world enterprise integration.
By accumulating ETH as a core balance sheet asset, Republic Technologies advances the growth of its underlying healthcare technology businesses while offering institutional-grade exposure to digital assets for all shareholders. This strategy attracts growing interest from traditional markets and accelerates institutional participation in the emerging technology sector.
“We hold strong conviction that Ethereum is the institutional chain, with ETH serving as the digital fuel powering global financial systems,” said Daniel Liu, CEO of Republic Technologies. “Our initial entry through Mantle’s Scout Program helped us gain early exposure to the broader Mantle ecosystem, where our alignment with mETH Protocol came as a natural next step. More than 50 established incumbents—including BlackRock, Franklin Templeton, PayPal, and Visa—have already built services on Ethereum. Wall Street has made its decision. Our role now is to extend the benefits of this macro tailwind to a broader base of institutional and retail participants worldwide.”
Its leadership team brings decades of experience from top-tier financial institutions, including Apollo Global Management, Goldman Sachs, BlackRock, and Canaccord Genuity. Republic Technologies operates under the publicly listed company Beyond Medical Technologies Inc., a technology firm integrating blockchain infrastructure to drive operational efficiency and improve patient outcomes across the medical ecosystem. In March 2025, Republic Technologies entered into a licensing agreement and launched its medical attestation platform, leveraging Ethereum-based distributed systems to power healthcare data integrity and regulatory compliance. The Ethereum treasury was established to support and scale this vision, marking a first-of-its-kind integration.
Institutional Alignment with Mantle’s Yield Infrastructure
Mantle’s mETH Protocol has quickly emerged as one of the leading platforms in Ethereum liquid staking and restaking. Within just 66 days of launch, it surpassed $1 billion in TVL —the fastest growth in its category—and has since peaked at over $2.19 billion. Designed with institutional-grade capital efficiency and composability in mind, mETH enables institutions to access Ethereum-native yield through a fully composable and capital-efficient framework.
To date, over 170,000 mETH (approximately $455 million) has been restaked into EigenDA, securing Mantle’s modular data availability layer. Validator operations are distributed across leading infrastructure providers, including Stakefish, P2P.org, Blockdaemon, A41, and Veda, ensuring high availability and robust institutional reliability.
“Republic Technologies’ participation highlights mETH Protocol’s ability to support institutional strategies built natively on Ethereum,” said Jonathan Low, Growth Lead at mETH Protocol. “As demand accelerates for ETH-native yield and utility, we remain focused on building resilient infrastructure that long-term allocators can trust.”
Looking Ahead: MI4 and Mantle Banking
The partnership precedes mETH’s inclusion in MI4, a tokenized, yield-focused index fund developed in collaboration with Securitize—the tokenization firm behind BlackRock’s BUIDL and Apollo’s ACRED. Backed by up to $400 million anchor investment from the Mantle Treasury, MI4 targets $1 billion in AUM and will offer regulated exposure to BTC, ETH, SOL, stablecoins, and select staking assets, with mETH playing a central role in its ETH allocation strategy.
In parallel, Mantle is preparing to extend mETH’s utility across traditional finance through Mantle Banking, an initiative that will integrate mETH into fiat rails, credit products, and conventional payment systems. This integration will allow users to spend, borrow, and invest with mETH across traditional payment rails, unlocking real-world utility for digital assets.
About Mantle Ecosystem
A pioneering on-chain ecosystem dedicated to revolutionizing the future of finance and blockchain scalability, seamlessly bridging traditional finance (TradFi) and decentralized finance (DeFi). Through innovative products like Mantle Network, mETH Protocol, Function (FBTC), and Mantle Index Four (MI4), Mantle’s ecosystem empowers users and institutions with a unified financial services platform, redefining how the world spends, saves, and invests in the Web 3.0 era.
For more information, users can visit: https://group.mantle.xyz/
Contact
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Faizah Faizuwan
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