Swiss-based digital bank SEBA has announced the launch of its Ethereum staking service, tailored to fit the needs of institutional investors.
The staking service, according to the bank was in response to the demand from its clients, as many aims to gain exposure to the Ethereum protocol, especially now that it is making a transition into the Proof-of-Stake (PoS) consensus model.
SEBA said the staking service will be highly regulated and will come with a trusted custody service. The staking service will general rewards that can be paid put on a weekly basis, offering a new layer of flexibility, access, and comfort for investors who pitch tents with it.
“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,” said Mathias Schütz, Head of Technology and Client Solutions at SEBA Bank.
According to Mathias, “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. Our institutional grade staking services offer a comprehensive and fully integrated platform for earning rewards from investments across a range of leading PoS crypto networks. By launching support for Ethereum staking we continue to deliver our clients the cutting-edge technology that they need to stay apace with the rapidly evolving digital assets industry.”
Over the years, Bitcoin has gained increasingly massive traction amongst institutional investors as an investment asset and a viable hedge against inflation. With Ethereum switching from the Proof-of-Work (PoW) network, investors may start prioritizing it in the near future as a worthy substitute for Bitcoin.
In anticipation of the PoS version of Ethereum through The Merge event, a number of mainstream players in the cryptocurrency sector have pledged support for the new chain with outfits like Coinbase promising staking services will be activated.
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Source: https://blockchain.news/news/seba-bank-floats-ethereum-staking-service-for-institutional-investors