Switzerland-based SEBA Bank, a global cryptocurrency lender, has introduced Ethereum staking services aimed at enabling clients to earn staking rewards on Ethereum.
See related article: Ethereum’s Bellatrix upgrade now live despite concerns
Fast facts
- Ethereum staking services would enable clients to earn rewards on a monthly basis, with adjustable lock-up periods available post-Merge, SEBA Bank said in a press release on Wednesday.
- The lender’s staking management platform claims to provide an institutional-grade solution for generating rewards from investments on proof-of-stake (PoS) crypto networks, the statement said.
- SEBA Bank, which offers access to digital assets through regulated banking services, received a banking and securities dealer license in August 2019 from the Swiss Financial Market Authority (FINMA), according to the company website.
- Ethereum’s long-awaited transition to proof of stake (PoS) is expected to make the network faster and more energy efficient.
- Ethereum was down about 9% to US$1,513.62 at 6:30 p.m. in Hong Kong, the biggest drop among CoinMarketCap’s top 10 tokens.
See related article: Why Ethereum PoW fork gains some crypto exchange backings
Author profile
Pradipta Mukherjee
Pradipta Mukherjee is a business reporter and has worked for Bloomberg News and Business Standard in India. An MBA and a post-graduate in Economics, Mukherjee focuses on financial markets and corporates. She is a Mary Morgan Hewett award recipient for Women in Journalism. She has also won the Jefferson Fellowship; the Thomson Reuters Foundation fellowship on ‘Social Media and Digital Journalism’ at The Chinese University of Hong Kong; the Kiplinger Fellowship at Ohio University, USA; and most recently, the National Press Foundation's fellowship on 'International Trade.'
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