Key Takeawys
- Sygnum Bank launches Ethereum 2.0 staking service
- Ethereum 2.0 set to transform the Ethereum blockchain network
- Sygnum a leading player in the crypto industry
Sygnum made this announcement in a press release highlighting key details on the staking service. Customers will be able to stake their Ether (ETH) in a fully secured staking platform for rewards.
The bank believes that the new service would lead to an influx of new institutional clients. It also stated that Ethereum 2.0 staking was a major investment opportunity for long-term investors within the crypto space.
Ethereum has been plagued with scalability issues leading to high gas fees for transactions and Ethereum 2.0 is expected to migrate the leading smart contract network from proof-of-work to proof-of-stake consensus.
Proof-of-Stake involves users staking their tokens in smart contracts to validate transactions on the blockchain. So far, more than $5.5 billion have been staked into the Ethereum 2.0 staking pool.
Sygnum is considered a pioneer in the crypto industry and takes a massive stride with this latest development. The bank is constantly innovating and has introduced several crypto-assets to institutional clients in recent months.
The Swiss bank recently launched institutional level custody and trading services for several decentralized tokens (DeFi). This made it possible for investors to access popular tokens like AAVE, Synthetic, Curve, Maker, Uniswap, and USDC stablecoin.
Sygnum back continues to be one step ahead and is driving the adoption of cryptocurrencies in Europe. Despite this, banks globally have been slow to jump on board the crypto train. However, it is expected that the coming months could signal a major shift within the traditional finance system to incorporate crypto services.
What do you think about Sygnum Bank offering Ethereum 2.0 staking services?
