Friday, December 9, 2022
HomeCryptocurrencyPopular Swiss Bank Enables Ethereum (ETH) Staking for Institutional Clients: Details

Popular Swiss Bank Enables Ethereum (ETH) Staking for Institutional Clients: Details

Institutions can now participate and benefit from the upcoming Ethereum (ETH) staking economy through SEBA Bank, a leading Switzerland-headquartered bank. This new development emerges when the Ethereum blockchain is closer to transitioning to a consensus algorithm that supports staking.

SEBA Bank, which is a crypto and blockchain-friendly bank, has therefore launched a service that will allow its institutional clients to seamlessly stake and earn rewards on the Ethereum (ETH) network. 

This development is an expansion of the bank’s already existing comprehensive staking management platform. SEBA Bank’s staking platform now supports three PoS-based crypto tokens including Tezos (XTZ), Polkadot (DOT), and Ethereum (ETH).

Ultimately, the Swiss bank staking platform offers a fully integrated institutional-grade solution for generating rewards from investments on proof-of-stake (PoS) networks. Generally, it broadens access to sustainable crypto investment products.

Read Also: Over 2.6 Million ETH Worth $3.8 Billion Burned Since EIP-1559 Implementation

SEBA Bank’s Ethereum Staking Services

The top financial institution believes that institutions can greatly contribute to the security of the Ethereum network via the staking of Ethereum (ETH) after The Merge’s implementation. In addition to the high demand for institutional-grade digital asset yield and staking services from clients, SEBA has also rolled out the Ethereum staking feature. 

“The launch of SEBA Bank’s Ethereum staking services caters to growing demand from institutions to manage a range of digital asset yield use cases from staking to decentralized finance (DeFi),” the announcement said. 

Moreover, the SEBA-powered staking management platform is designed to enable clients to earn rewards in a flexible and accessible manner.

It is worth noting that staking rewards are provided every month on the platform. The bank added that after the Merge, “adjustable lock-up periods will be enabled with a cost-effective fee structure applied to guarantee asset security.”

Ethereum (ETH) Merge is Here

The biggest upgrade on the largest smart contract platform is finally here. On September 6, Bellatrix, the final upgrade before the Merge was successfully implemented. As earlier scheduled, the Ethereum merge will take place between September 10-20

The upgrade is crucial and highly anticipated because it will transition Ethereum to a proof-of-stake (PoS) consensus mechanism. SEBA bank has therefore made a strategic move to allow its institutional clients to access Ethereum’s rewarding staking economy.

<

Mathias Schütz, Head of Technology and Client Solutions of SEBA Bank commented:

 “The Ethereum merge is an anticipated and significant milestone for the world’s second-largest cryptocurrency, delivering improvements for its users across the areas of security, scalability, and sustainability. The launch of our Ethereum staking services will enable institutional investors to play a key role in securing the future of the network, via a trusted, secure, and fully regulated counterparty.”


Follow us on Twitter, Facebook, Telegram, and Google News

Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom joined the crypto and blockchain industry in 2019. He is an all-rounded crypto content writer. He mostly covers industry news, developments, and other educational resources. He believes that proper crypto awareness is instrumental to achieving mass adoption.
RELATED ARTICLES

Latest News & Articles

Recent Comments