Swiss SEBA Bank Offers Ethereum Staking To Companies
- Cryptobank SEBA will allow institutions to stake ETH
- They will introduce different lock periods and monthly rewards
- This is the first such service from an institutional manager
Cryptobank SEBA has launched an ETH staking service for institutional clients (pension funds, hedge funds, companies, etc.). They will receive monthly interest for keeping their own assets in Ethereum.
The staking platform will offer flexible lock periods and guarantee monthly rewards. However, the blocked Ether cannot be withdrawn until the Shanghai update is released (scheduled for 2023).
The service will become available immediately after the transition of Ethereum to Proof of Stake, which will take place on September 13-15. Here is how the brand representatives commented on the news:
“The merger is a major milestone for Ethereum. It should provide better security, scalability and resilience. Our new staking service will enable institutional investors to play a key role in securing the future of the network.”
In its press release, SEBA Bank emphasizes that after the transition to PoS, the Ethereum network will become environmentally neutral. This is an important argument for companies because many of them have an eco-activism strategy.
SEBA Bank is the first in Switzerland and one of the first crypto-banks in the world to receive a license for custodial services. Last year they launched a token backed by real gold.