A leading cryptocurrency lender, identified as SEBA Bank, has launched its Ethereum staking services. The firm confirmed the development in its Wednesday news release. According to SEBA bank, the staking offering is geared towards allowing its users to accrue rewards on Ethereum.
According to the news release, users will be eligible to obtain rewards monthly with adjustable lock-up periods available during post-Merge. Notably, the staking platform also avails institutional-grade solutions for generating rewards from investments on proof-of-stake (PoS) crypto networks. SEBA bank says, “the launch of SEBA Bank’s Ethereum staking services caters to growing demand from institutions to manage a range of digital asset yield use cases from staking to decentralized finance (DeFi).”
It further that the staking platform avails “secure and seamless access for clients to stake crypto tokens” in numerous leading POS protocols including Ethereum, Polkadot and Tezos. Also, SEBA bank promises to continuously integrate support for other protocols as part of the platform’s development plan. The crypto lender, however, admonishes its customers to explore the new Ethereum staking platform. This, according to SEBA, grant them access to lots of the benefits.
SEBA bank official extols the potential of imminent Merge
Mathias Schütz, Head Technology & Client Solutions of SEBA Bank, reacted to the development. According to Schutz, the Ethereum merge remains an “anticipated and significant milestone for the world’s second largest cryptocurrency.” The SEBA bank official said the Merge tends to help the network improve in its security, scalability and sustainability.
The official added that launch of SEBA bank Ethereum staking services possesses the capacity to allow “Institutional investors play a key role in securing the future of the network.” This, according to him, tends to manifest through a “trusted, secure and fully regulated counterparty.” Schütz further that the institutional grade staking services of SEBA bank avails a “comprehensive and fully integrated platform for earning rewards from investments across a range of leading PoS crypto networks.” He hinted that the bank support for Ethereum staking affirms its commitment in delivering cutting-edge technology to its users.
Worth noting that the unveiling of the staking services comes a few days to the highly anticipated Ethereum Merge. According to the Ethereum Foundation, the Merge looks set to fully manifest early next week. As reported, the development will manifest when Ethereum Mainnet acquires a block height amounting to 15,540,293. Also, the foundation said that the Merge is designed to unfold in two notable phases. The phases, as reported, include Bellatrix and Paris.
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