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Sygnum first Bank to offer Ethereum 2.0 staking



Zurich, 6 July 2021 – Sygnum Bank announces today that it is the first bank to offer Ethereum 2.0 staking. Clients can conveniently and securely stake Ethereum[1] through Sygnum’s institutional-grade banking platform and generate a yield of up to 7 percent per annum currently.


  • As a pioneer in bringing innovative digital asset products to the regulated space, Sygnum is continually expanding its offering of attractive, regulated yield generating products such as staking

  • Staking services are fully integrated into Sygnum’s banking platform with a simple, user-friendly setup

  • With Ethereum powering the exponential growth of decentralised finance (DeFi) applications, staking is a compelling choice for long-term Ethereum investors also seeking attractive yields


Sygnum expands portfolio of digital asset yield generating products with Ethereum 2.0 staking

Sygnum, the world’s first digital asset bank, has launched staking for Ethereum 2.0, the new, upgraded Ethereum network, and clients can now stake Ethereum from their existing wallets to generate a yield of up to 7 percent per annum currently. This service is fully integrated with Sygnum’s banking platform and has a simple, user-friendly setup. With institutional-grade custody and fully segregated wallets, staked Ethereum are held in clients’ individual accounts with the highest security.


Staking involves the locking up of assets to participate in the validation of transactions on proof-of-stake blockchains, with a financial “reward” provided in exchange. This offers a digital asset alternative for yield generation in today’s low or negative interest rate environment. As a pioneer in bringing innovative digital asset products to the regulated space, Sygnum already offers staking for Tezos, as well as a yield-generating fixed term deposit on its Digital Swiss Franc stablecoin (DCHF).


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



Staking a compelling choice for long-term investors in Ethereum

Ethereum is the leading smart contract platform with a market capitalisation of more than USD 250 billion[2]. The vast majority of decentralised finance (DeFi) products and services run on Ethereum, and the DeFi space has been growing exponentially – Total Value Locked in DeFi has grown more than 3 times since the start of 2021[3].


Ethereum 2.0 will see increased efficiency with significantly lower environmental impact, scalability and security, better positioning the network for future growth. Staking was part of the first phase on the roadmap to Ethereum 2.0, which went live in December 2020 with the launch of the Beacon Chain. The full upgrade is expected to take more than a year to complete, but the new blockchain has since proven to be stable, and more than USD 13 billion[4] worth of Ethereum has already been staked.


Thomas Brunner, Head of Accounts and Custody at Sygnum Bank says, “Sygnum clients can participate in the new proof-of-stake Ethereum and benefit from potentially higher staking rewards now. This is a compelling choice for long-term investors in the Ethereum ecosystem.“


[1] Or Ether (ETH), as the token of the network [2] CoinMarketCap [3] DeFi Pulse [4] Staking Rewards




About Sygnum

Sygnum is the world’s first digital asset bank, and a digital asset specialist with global reach. With Sygnum Bank AG’s Swiss banking licence, as well as Sygnum Pte Ltd’s capital markets services (CMS) licence in Singapore, Sygnum empowers institutional and private qualified investors, corporates, banks, and other financial institutions to invest in the digital asset economy with complete trust. Sygnum operates an independently controlled, scalable, and future-proof regulated banking platform. Our interdisciplinary team of banking, investment, and Distributed Ledger Technology (DLT) experts is shaping the development of a trusted digital asset ecosystem. The company is founded on Swiss and Singapore heritage, and operates globally. To learn more about Sygnum, please visit www.sygnum.com.


For more information, or to arrange an interview, please contact the following:


Switzerland

Corporate Contact:

Dominic Castley

T: +41 58 508 21 01

E: dominic.castley@sygnum.com


Sygnum Bank AG

Uetlibergstrasse 134a

8045 Zürich

Switzerland

www.sygnum.com




Disclaimer

This document was prepared by Sygnum Bank AG. This document may contain forward looking statements and may be subject to change. The opinions expressed herein are those of Sygnum Bank AG, its affiliates, and partners at the time of writing. The document is for informational purposes only and contains general material. It is for use by the recipient only. It does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum Bank AG to purchase or sell assets or securities. It is not intended to be used as a general guide to investing, and should be used for informational purposes only. When making an investment decision, you should either conduct your own research and analysis or seek advice from an expert to make a calculated decision. The information and analyses contained in this document have been compiled from sources believed to be reliable. However, Sygnum Bank AG makes no representation as to its reliability or completeness and disclaims all liability for losses arising from the use of this information.


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