SEBA Bank and others offer ETH staking services

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As the Ethereum network moves from the proof of work (PoW) consensus mechanism to that of proof of stake (PoS), interest from institutional investors seems to be intensifying. This is confirmed by the decision of a digital asset platform to launch a service for ETH staking, for institutional investors.

In particular, the Swiss digital asset banking platform, SEBA Bank, announced that it has launched a service that enables ETH staking for institutions that want to earn returns from staking on the Ethereum network.

According to the company, the move is a response to growing institutional demand for decentralized finance (DeFi) services.

According to Mathias Schütz, an executive at SEBA Bank, the company believes that institutions can play a role in the security of the Ethereum network by staking ETH quantities.

Schütz explained:

“The launch of our Ethereum staking services will allow institutional investors to play a key role in securing the future of the network through a reliable, secure and fully regulated counterparty.”

Beneficial merger

Schutz believes that the upcoming merger is a very important milestone for the Ethreum network, in terms of security, scalability and sustainability. He also added that the start of staking for ETH as far as institutions are concerned, allows their company to keep up with the rapidly evolving digital asset space.

Preceded by other companies

In addition to SEBA Bank, there were other companies that began offering staking services in anticipation of the Ethereum merger. In June, Anchorage Digital bank announced its ETH staking service for institutional clients.

Anchorage Digital’s co-founder Diogo Mónica said that getting institutional staking for ETH is a “win-win” situation for both the ecosystem and the institutions.

Meanwhile, Ethereum mining group, Ethermine, has created a new staking pool so users can collectively stake ETH and receive interest.

Users can sign up for the pool by depositing a minimum amount of 0.1 ETH. However, the platform noted that the lower the staking amount, the higher its fees.

Currently the platform is offering an annual interest rate of 4.43% for ETH staking.

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