SEBA Bank To Include Ethereum Staking In Services
September 12 2022 - 1:54PM
NEWSBTC
SEBA Bank is a renowned digital currency company that acts as a
bridge between conventional currencies and digital currencies, like
Ethereum. It’s committed to offering its customers and clients a
secure and seamless trading experience. Like regular banks, SEBA
Bank allows investors and traders to perform transactions based on
cryptocurrencies and traditional currencies. While these services
seem good enough for its customers and clients, the company saw a
need for operational expansion. To this effect, the firm has
included Ethereum staking as part of its services. SEBA Bank
Includes ETH Staking In Its Services According to SEBA Bank
executive Mathias Schütz, including Ethereum staking to its
services is an excellent way to be relevant to the network upgrade.
Related Reading: Cardano On White House Crosshair Can Push ADA Up
This Route The Swiss crypto asset banking platform revealed in an
announcement that Ethereum staking has successfully been added to
its services. The idea is to create an opportunity for other
companies that wish to make profits through ETH staking. DeFi
(Decentralized finance) services have an increasing institutional
demand. The company cited that one way to meet this demand is
through Ethereum staking. Schütz added that the company would play
a vital role in securing the network’s future by including Ethereum
staking into its services. The cryptocurrency sector is rapidly
evolving, and there’s a need for the company to follow up at the
same pace. So, supporting Ethereum staking is the best way to
achieve this goal, Schütz added. Moreover, he acknowledged that the
Merge would mark a significant breakthrough regarding Ethereum
sustainability, scalability, and security. Other Firms In Ethereum
Staking Business SEBA Bank is not the only firm interested in
incorporating Ethereum staking into its services. Some other
companies are already in the business as they await the Merge. A
few examples of these companies are Anchorage Digital and
Ethermine. Anchorage Digital announced in June this year that it
had incorporated Ethereum staking into its operations. Anchorage is
recognized as a crypto bank in the digital currency industry. The
firm also cited that the new development was intended for
institutional clients. Diogo Mónica stated that there would be no
chances of losses with this development. So, the institutions and
the ecosystem should be prepared for a win-win operation at the
start of the Ethereum staking. Diogo Mónica is the co-founder of
the crypto bank Anchorage Digital. Related Reading: Crypto Traders
Bleed Heavily After Betting Against Market On the other hand,
Ethermine has decided to create a staking pool for its users, which
is already in operation. Ethermine is the known mining pool of
Ethereum. The minimum amount required for users to engage in the
staking is 0.1 Ether. In addition, through the staking pool, users
will receive a 4.43% yearly interest rate on the platform.
Furthermore, the platform allowed participation in the staking with
less ETH. However, such stakers will be required to pay additional
fees. Featured image from Pixabay, chart from TradingView.com
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