Sygnum Bank to be the first in offering Ethereum 2.0 staking

By Joy Dumasia

Sygnum Bank announced that it is the first Bank to offer Ethereum 2.0 staking. Clients can conveniently and securely stake Ethereum through Sygnum’s institutional-grade banking platform and generate a yield of up to 7% per annum. With institutional-grade custody and fully segregated wallets, staked Ethereum are held in clients’ accounts with the highest security.

Sygnum already offers to stake for Tezos, as well as a yield-generating fixed-term deposit on its Digital Swiss Franc stablecoin (DCHF).

Ethereum is a contract platform with a market capitalization of more than $250 billion. The vast majority of decentralized finance (DeFi) products and services run on Ethereum, and the DeFi space has been growing exponentially. The total value locked in DeFi has risen more than three times since the start of 2021.

Thomas Eichenberger, Head of Business Units at Sygnum Bank, says: “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.”

Recently, IBS Intelligence reported that Swiss digital asset bank, Sygnum, announced that it had received FINMA regulatory approval for its digital asset trading facility. The digital asset trading facility is a significant part of the Bank’s end-to-end tokenization offering, a regulated solution covering the complete life-cycle of security – from primary issuance, settlement, custody, and now, secondary trading.