![\"Sygnum](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2021\/07\/shutterstock_1905143575-768x432.jpg\")
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The Switzerland-based bank Sygnum revealed on Tuesday that the firm now allows Ethereum 2.0 staking. The FINMA-approved company\u2019s customers can access the Ethereum-based staking services via Sygnum\u2019s banking platform.<\/strong><\/p>\n Last November, Sygnum Bank AG revealed that it is partnered with the company Taurus Group<\/a>, a firm that also works with SEBA bank and other Swiss fintech services. The financial services company also detailed at the time that Sygnum would offer customers crypto staking accounts.<\/p>\n The partnership with Taurus also revealed the staking accounts available would leverage the Tezos network, a proof-of-stake (PoS) blockchain. Now Sygnum is allowing customers<\/a> to stake ethereum (ETH)<\/a> via the fintech firm\u2019s banking platform. Sygnum considers itself the first FINMA-approved bank to enter into the ETH<\/a> 2.0 staking space.<\/p>\n \u201cEthereum is the second-largest blockchain protocol, and ethereum staking is a core element for digital asset portfolios which can now be accessed in a convenient, secure and regulated setting\u201d, the head of business units at Sygnum Bank, Thomas Eichenberger said in a statement.<\/p>\n \u201cThis further expands Sygnum\u2019s offering of attractive, regulated yield generating products to meet the needs of clients to accumulate other forms of return in addition to capital appreciation,\u201d Eichenberger added.<\/p>\n <\/ins> <\/ins> <\/p>\n Sygnum Bank\u2019s ETH<\/a> 2.0 staking offering follows the investor\u2019s note<\/a> written by the banking giant JPMorgan last week. JPMorgan discussed the Ethereum 2.0 staking shift and estimated that cryptocurrency staking could be a $40 billion industry by 2025.<\/p>\n Sygnum\u2019s head of accounts and custody details in the bank\u2019s latest announcement that \u201cstaking is a compelling choice for long-term investors in Ethereum.\u201d Thomas Brunner, the bank\u2019s head of accounts and custody said Sygnum clients can \u201cbenefit from potentially higher staking rewards now.\u201d<\/p>\n Statistics show that the Ethereum 2.0 deposit contract has recently exceeded 6 million ether<\/a> and ETH<\/a> is one of the most leveraged staking networks today. The Ethereum 2.0 deposit contract allows users to stake ETH<\/a> in the ETH<\/a> 2.0 phase 0 beacon chain.<\/p>\nSygnum\u2019s Banking Platform Offers Ethereum 2.0 Staking<\/h2>\n
JPMorgan Estimates Crypto Staking Could Be a $40 Billion Industry by 2025<\/h2>\n