The excitement surrounding stakes has increased as the Merge draws near. More than 13.32 million Ethereum tokens have been staked so far, according to data from CryptoQuant. Parallelly, the staking rate has also been on the incline. At press time on Wednesday, the same stood at the brink of 11%.
Top crypto corporations have recently been concentrating on their staking situation in order to capitalize on and make the most of the current trend.
For instance, Coinbase began providing Ethereum staking to its domestic institutional clients in the United States at the beginning of last month. Additionally, practically all well-known exchanges, including Binance and Gemini, enable ETH 2.0 staking, as was recently highlighted.
In relation to this, Switzerland-based SEBA bank has recently launched Ethereum staking for its institutional clients. Notably, the launch of the bank’s Ethereum staking services caters to growing demand from institutions to manage a range of digital asset yield use cases.
Ethereum staking services will now enable SEBA’s clients to earn rewards in a flexible and accessible manner. Per the official statement, the same will be provided on a monthly basis, and adjustable lock-up periods will be available post-Merge. Alongside this, a cost-effective fee structure will be applied to guarantee asset security.
According to Mathias Schutz, Head of Technology and Client Solutions, the Merge is an important turning point for Ethereum since it will benefit users in the areas of security, scalability, and sustainability.
He further added,
“The launch of our Ethereum staking services will enable institutional investors to play a key role in securing the future of the network.”
The staking program comes with insurance and requires a certain amount of capital to enter the pool.
In 2019, the bank was awarded a provisional banking and securities dealer license by the Swiss Financial Market Supervisory Authority (FINMA), which gives SEBA full legal power to integrate crypto into its banking system.