The World’s First Digital Asset Bank has Started Ethereum-based Staking
Sygnum Bank AG is the first-ever digital assets banking system in the world. It is based on the banking infrastructure that is a fusion of Singapore and Swiss financial services enterprises. The bank has gained media traction recently as it has started a new type of staking with Ethereum.
According to Sygnum representatives, this is the first time in the world that any banking unit is offering such a staking option. The bank also claims that Ethereum is among the best mediums for cryptocurrency trading. Those who have accumulated enough ETH or Ethereum 2.0 will be able to stake it in the bank fund. It will allow the investors to use their ETH to generate extra income and yearly yield with their investment.
More than 6 Billion ETH 2.0 Tokens have been Staked in the Staking Funds to Date
Looking at the staking pool system of the overall crypto space, it is easy to ascertain that ETH 2.0 is the most dominant choice of investors for staking. Its ability of smart contracts and DApps makes it more suited for the staking opportunities. With Sygnum, investors will be able to earn up to a 7% yield or monthly interest per year.
However, the more investors add their stakes, the lower the ratio of returns falls. Nevertheless, ETH holders have been known to prefer using their tokens for staking. The Block report reveals that more than 6 billion Ethereum 2.0 tokens have been staked in similar contracts. At present, Ethereum has been able to recover from the price crash and is currently trading at 2,280.
Sygnum Account Holders can also Go for Staking with Other Digital Assets Parallel to Ethereum 2.0
Tezos is a decentralized and open-sourced blockchain project that is often pitied against Ethereum for similar qualities. Both Tezos and Ethereum are alike due to their use of DApps and smart contracts capabilities. However, Tezos has the upper hand due to its self-amendment protocols.
The investors also prefer Tezos over ETH due to faster transactions and higher scalability. Sygnum is already offering its consumers the option of using Tezos tokens for staking purposes. Another digital asset for yield generation and fixed period depositing is the franc stablecoin (DCHF). This is a token native to the Sygnum bank, which is pegged to the value of the Swiss franc.