SEBA Bank launches Ethereum staking
For institutional investors
Swiss digital asset banking platform SEBA has launched Ether staking services for institutional investors ahead of the network’s anticipated Merge upgrade.
The Merge is expected to occur around September 13th-15th. If everything goes to plan, transitioning from proof-of-work (PoW) to proof-of-stake (PoS) will lower Ethereum’s energy consumption by over 99%.
In a news release, SEBA said the institutional-grade staking services will allow its clients to earn rewards on their ETH holdings in a “flexible and accessible” manner, with rewards provided on a monthly basis.
Mathias Schütz, an executive at SEBA Bank, stated the firm believes that institutions can play a role in securing the network by staking ETH, adding:
“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.”
Schütz noted that the Merge is a significant milestone for Ethereum in terms of security, scalability, and sustainability. The executive explained that launching support for ETH staking will help its clients keep up with the rapidly evolving digital assets industry.
Also Wednesday, Binance.US announced that users can now stake Ether on its platform with a minimum of just 0.001 ETH ($1.61) and earn rewards at an initial rate of 6% APY.
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