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SEBA bank launches Ethereum staking platform ahead of Merge

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SEBA Bank, a popular crypto banking firm in Switzerland, has unveiled its Ethereum staking platform. The crypto bank announced the development in a press release issued on its handle on Wednesday. The staking platform will run as an institutional-grade offering, allowing its customers to accrue staking rewards on Ethereum.

According to SEBA bank, the unveiling of the Ethereum staking services ensued owing to the increasing need for institutions to grossly “manage a range of digital asset yield use cases from staking to decentralized finance (DeFi).” 

The crypto bank says its new staking platform avails a robust and “comprehensive and fully integrated institutional-grade solution for generating rewards from investments on Proof-of-Stake (PoS) crypto networks.” 

SEBA’s staking platform rewards clients monthly

It added that the staking services allow the clients to amass their incentives in a flexible and accessible manner. As revealed by SEBA bank, its staking platform is designed to avail users of monthly rewards. The Switzerland-based firm said the platform has a cost-effective fee structure and guaranteed asset security.

SEBA added that all assets on the network will be secured via an “institutional-grade custody solution and a stringent regulatory environment including deposit protection, storage insurance, and capital requirements.” According to the firm, this ensures that users enjoy uninterrupted access to assets, irrespective of the market conditions.

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SEBA says its platform paves the way for reliable and user-friendly accessibility to stake crypto tokens in Ethereum, Polkadot, Tezos, and other POS protocols. However, the company promised to support additional protocols in the coming months. According to the firm, this is part of its plan for the staking products.

The head of technology & client solutions of SEBA Bank, Mathias Schütz, noted that the Ethereum merge “is an anticipated and significant milestone for the world’s second-largest crypto, delivering improvements for its users across the areas of security, scalability, and sustainability.” According to the official, the staking platform by SEBA will allow corporate investors to “play a key role in securing the future of the network, via a trusted, secure and fully regulated counterparty.” 

Schütz added that the staking service provides a vast and fully configured platform for earning incentives from investments within numerous PoS crypto networks. According to him, SEBA’s support for Ethereum staking illustrates the resolve of the firm to avail its customers with “cutting-edge technology that they need to stay apace with the rapidly evolving digital assets industry.” 

The Merge is set to unfold next week. According to the Ethereum Foundation, the anticipated upgrade in the Ethereum development will manifest when Ethereum Mainnet acquires a block height amounting to 15,540,293. SEBA believes the upgrade on the Ethereum network will enable it “to deliver on its plan of becoming more scalable, secure, and sustainable,” thereby reducing its energy.

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