Sygnum Bank Expands Crypto Services With Cardano Staking Support

Cryptocurrency-friendly bank Sygnum adds the support for Cardano (ADA) staking as part of the ongoing expansion of its cryptocurrency offerings. Sygnum reveals that it had integrated Cardano into its bank-grade staking solution, enabling customers to earn incentives by staking ADA through the bank’s institutional-grade platform. ADA now joins Sygnum’s expanding portfolio of crypto-staking assets, which already includes the three Proof-of-Stake (PoS) protocols Ethereum 2.0, Tezos, and Internet Computer. Staking Services: Important Part of Sygnum According to the statement, staking services are a crucial component of Sygnum’s platform and are accessible to customers via the bank’s eBanking platform. The services integrate with Sygnum’s banking platform, which uses capabilities like segregated wallets, secure private key management, and others to deliver institutional-grade security. Proof-of-Stake (PoS) blockchains do not require mining activities and instead rely on users locking up their currencies to maintain a network, in contrast to Proof-of-Work (PoW) networks like Bitcoin. Sygnum, a Swiss central bank under regulation, introduced cryptocurrency around two years ago. Tezos staking will begin in November 2020. In July 2021, Sygnum also declared that it would make Ethereum 2.0 staking available on its platform. Cardano Staking Added to Sygnum Many institutional investors’ exposure to the digital asset will rise due to Cardan...