SEBA Bank is a well-known digital currency company that acts as a bridge between traditional currencies and digital currencies like Ethereum. It is committed to provide a safe and seamless trading experience to its clients and clients.
Like regular banks, SEBA Bank allows investors and traders to conduct transactions based on cryptocurrencies and traditional currencies. While these services sound good enough for their clients and customers, the company felt the need to expand operations. To this effect, the firm has included Ethereum staking as part of its services.
SEBA Bank includes ETH staking in its services
According to SEBA Bank executive Mathias Schutz, adding Ethereum to its services is a great way for network upgrades to be relevant.
The Swiss crypto asset banking platform revealed in an announcement that Ethereum staking has been successfully added to its services. The idea is to create an opportunity for other companies who want to make a profit through ETH stake.
Institutional demand for DeFi (decentralized finance) services is increasing. The company said that one way to meet this demand is through Ethereum staking. Schütz said the company will play a key role in securing the future of the network by including Ethereum in its services.
The cryptocurrency sector is evolving rapidly, and the company needs to move at the same pace. Therefore, backing Ethereum staking is the best way to achieve this goal, Schutz said. Furthermore, he acknowledged that the merge will mark a significant breakthrough with respect to Ethereum stability, scalability, and security.
Other Firms in the Ethereum Staking Business
Seba Bank is not the only firm interested in incorporating Ethereum staking into its services. Some other companies are already in business as they await the merger. Some examples of these companies are Anchorage Digital and Ethermine.
Anchorage Digital announced in June this year that it had added Ethereum to its operations. Anchorage is recognized as a crypto bank in the digital currency industry. The firm also cited that the new development was for institutional clients.
Diogo Monica said there would be no chance of harm from this development. Therefore, institutions and the ecosystem should be prepared for a win-win operation at the start of Ethereum staking. Diogo Monica is the co-founder of crypto bank Anchorage Digital.
Ethermine, on the other hand, has decided to create a staking pool for its users, which is already operational. Ethermine is the known mining pool of Ethereum.
The minimum amount required for users to place bets is 0.1 Ether. Furthermore, through the staking pool, users will receive a 4.43% annualized interest rate on the platform.
In addition, the platform allowed stakeholder participation with less ETH. However, such stakeholders will have to pay additional charges.
Featured image from Pixabay, chart from TradingView.com