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Sygnum Is Now the First Bank in the World That Offers ETH2 Staking

Sygnum Bank, a Swiss bank focused on crypto has confirmed it is now the first bank on the globe that lets its clients stake Ether. Its clients can now stake ETH via Syngum’s institutional banking platform in order to receive yields of up to 7% per year.

The bank describes itself as being the “world’s first digital asset bank”. The entity mentioned that “the vast majority of decentralized products and services run on Ethereum,” and how the TVL of the DeFi sector has increased by three times since the beginning of 2021:

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

The head of business units of Sygnum, Thomas Eichenberger, described Ethereum staking as being “a core element for digital asset portfolios.”

The bank is in direct competition with centralized exchanges and crypto-native staking providers, which include Coinbase and Kraken.

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