ADA will be added to the list of cryptocurrencies already available for staking on Sygnum. Prior to the announcement, Sygnum provided staking on three cryptocurrencies: Ethereum (ETH), Internet Computer (ICP), and Tezos (XTZ).
The firm announced today that its users would be able to stake ADA, the eighth-largest cryptocurrency, to receive incentives through its bank-grade staking platform.
Following the development, ADA will be added to the list of cryptocurrencies already available for staking on Sygnum. Prior to the announcement, Sygnum provided staking on three cryptocurrencies: Ethereum (ETH), Internet Computer (ICP), and Tezos (XTZ).
With the inclusion of ADA, Sygnum's clients now have a total of four cryptocurrencies available for staking.
According to Thomas Eichenberger, Head of Business Units at Sygnum Bank, “as institutional adoption of digital assets continues to expand, so does the demand for the possibility to earn rewards with upside from the underlying protocols. Signum's bank-grade staking product, which now includes Cardano, provides our clients with a diverse range of investment options backed by the security and peace of mind of a licensed bank.”
Sygnum Staking Service and Its Importance to Users
It is worth noting that Sygnum offers one of the best cryptocurrency staking services. Sygnum's staking solution is completely connected with the company's banking infrastructure. Users' security is ensured via segregated wallets, safe private key management, and multi-layer security infrastructure.
The Cardano Foundation's CEO, Frederik Gregaard, expressed excitement over the development and welcomed Sygnum users to the Cardano ecosystem.
This new offering enables Sygnum's clients to engage in our ecosystem, where they may enjoy risk-free staking without having to transfer or lock the asset. Furthermore, Cardano's cutting-edge architecture offers both retail and institutional clients a one-of-a-kind experience for ADA-holders. You always have control over your ADA, Gregaard added.
Meanwhile , Sygnum became the first regulated bank to offer its users Ethereum staking. The move demonstrates that Sygnum is fully aware of the potential of cryptocurrency and is dedicated to providing its users with complete exposure to the new asset class.
