Swiss crypto platform SEBA Bank has launched ETH staking services for large customers ahead of the Ethereum network merger.
The SEBA Bank team announced that the reason for the launch of the service was the expectation of a future upgrade of the Ethereum network called Merge. The institutional grade offer will allow SEBA customers to receive monthly rewards for their Ether assets. If the client’s contribution exceeds 32 ETH, then he can become a validator and participate in network management through SEBA Bank.
According to the terms of service, the escrowed assets will not be possible to withdraw until the subsequent upgrade of the Ethereum network called Shanghai takes place.
“The merger of the Ethereum network is an expected and important milestone for the world’s second largest cryptocurrency. The launch of our 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,” said Matthias Schütz, Head of Technology and Client Solutions at SEBA Bank.
In early 2022, SEBA Bank, a cryptocurrency banking platform created by former employees of the UBS investment banking group, announced the completion of an investment round that raised more than $119 million to the project.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
