Ethereum 2.0 Staking Now being Offered by Sygnum Bank, a Digital Asset Banking Platform

Sygnum Bank reveals that it has become one of the first banks to provide Ethereum 2.0 staking support.

Customers are able to easily and securely stake Ethereum (ETH) via Sygnum’s institutional-grade banking service which can help with generating a substantial yield of up to 7% yearly.

As a pioneer and leader in bringing new digital asset products to the regulated space, Sygnum is committed to further expanding its product offering of competitive yet regulated yield generating products like digital asset staking.

As explained in the announcement, staking services will be fully-integrated into Sygnum’s banking services with an intuitive, user-friendly setup. With Ethereum powering the rapid growth of decentralized finance (DeFi) apps, staking is a great choice for long-term ETH investors looking for lucrative yields.

Sygnum continues to expand its extensive portfolio of crypto-asset yield generating products with Ethereum 2.0 staking. Sygnum, the first digital asset bank, has confirmed that clients can provide Ethereum from their existing wallets to generate a relatively high yield or rate of return. This offer may seem great when we consider that bank deposits are not providing any returns with some banks even charging clients for holding their funds.

As covered, staking involves locking up digital assets in order to take part in the validation of transactions on proof-of-stake (PoS) blockchain networks, with a financial incentive offered in exchange.

Sygnum has also been providing staking for Tezos (XTZ), and a yield-generating fixed term deposit on its Digital Swiss Franc stablecoin (DCHF).

Thomas Eichenberger, Head of Business Units at Sygnum Bank, stated:

“Ethereum is the second largest blockchain protocol, and Ethereum staking is a core element for digital asset portfolios which can now be accessed in a convenient, secure and regulated setting. This further expands Sygnum’s offering of attractive, regulated yield generating products to meet the needs of clients to accumulate other forms of return in addition to capital appreciation.”

Ethereum is the leading smart contract platform with a market cap of over $250 billion. The majority of DeFi protocols are running on Ethereum. The DeFi space has been growing exponentially with Total Value Locked or TVL in the ecosystem growing over 3x since the beginning of this year.

Ethereum 2.0 promises greater overall efficiency with considerably lower environmental impact, improved scalability and better security, which should help with ideally positioning the DLT network for future growth.

Staking has been part of the initial phase on the roadmap to Ethereum 2.0, which had gone live in December of last year (and the introduction of the Beacon Chain). The complete upgrade and transition to ETH 2.0 should take around a year. The new blockchain has proven to be stable so far, with over $13 billion worth of Ethereum being staked.

Thomas Brunner, Head of Accounts and Custody at Sygnum Bank, remarked:

“Sygnum clients can participate in the new proof-of-stake Ethereum and benefit from potentially higher staking rewards now. This is a compelling choice for long-term investors in the Ethereum ecosystem.“



Sponsored Links by DQ Promote

 

 

Send this to a friend