Wednesday, November 30, 2022
HomeCrypto NewsMarketSwiss Bank Sygnum Adds Cardano (ADA) to Its Bank-Grade Staking Offering 

Swiss Bank Sygnum Adds Cardano (ADA) to Its Bank-Grade Staking Offering 

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Swiss bank Sygnum has announced that it has added Cardano (ADA) to its staking offering. 

The company noted in an announcement today that its customers will be able to stake ADA, the eighth-largest cryptocurrency, via its bank-grade staking platform to earn rewards. 

Following the development, ADA will be added to the list of cryptocurrencies Sygnum already offers for staking. Prior to the announcement, Sygnum offered to stake in three cryptocurrencies, including Ethereum (ETH), Internet Computer (ICP), and Tezos (XTZ). 

With the addition of ADA, the cryptocurrency has become the fourth coin that Sygnum offers for staking to its clients. 

Commenting on the development, Thomas Eichenberger, Head of Business Units at Sygnum Bank, said: 

“As institutional adoption of digital assets continues to ramp up, demand for the ability to earn rewards alongside upside from the underlying protocols also continues to rise. Signum’s bank-grade staking offering, now including Cardano, offers our clients a broad selection of investment opportunities backed by the security and peace of mind of a regulated bank.” 

Sygnum Staking Service and Its Importance to Users

It is noteworthy that Sygnum offers one of the top cryptocurrency staking services. Sygnum’s staking service is fully integrated with its banking platform. 

Users’ security is guaranteed via segregated wallets, secure private key management, and a multi-layer security infrastructure. 

Frederik Gregaard, CEO of the Cardano Foundation, was excited about the development, while welcoming Sygnum users to the Cardano ecosystem. 

This new offering allows Sygnum’s clients to participate in our ecosystem, where they enjoy a risk-free staking experience without having to transfer the asset nor lock it. Additionally, Cardano’s state of the art architecture provides both retail and institutional clients a unique experience for ADA-holders. You always have the power over your ADA,” Gregaard added.  

Meanwhile, Sygnum became the first regulated bank to offer Ethereum staking to its clients. The move suggests that Sygnum is fully aware of cryptos’ potential and is committed to giving its users full exposure to the nascent asset class. 

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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