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Sygnum Bank Offers Cardano Staking for Clients

Quick take: 

  • Sygnum bank brings ADA staking to clients
  • Cardano is the 8th Cryptocurrency offered for staking by Sygnum
  • Sygnum brings the security levels their bank is well known for to this new staking offer

Sygnum Bank, the world’s first digital assets bank is now offering ADA staking to its clients. In an official announcement, Sygnum Bank has stated that it is expanding its bank-grade staking portfolio with Cardano (ADA). 

Cardano becomes the eighth cryptocurrency offered by Sygnum Bank for staking. The bank’s clients can now use Sygnum’s banking platform to stake ADA and yield rewards.

“I’m delighted to welcome Sygnum Bank and its clients to our thriving ecosystem. This new offering allows Sygnum’s clients to participate in our ecosystem, where they enjoy a risk-free staking experience without having to transfer the asset nor lock it,” says Frederik Gregaard, the CEO of the Cardano Foundation.

ADA Staking on Sygnum: What Does it Look Like?

Staking programs are an important part of the services offered by the bank. Users can access ADA staking right from Sygnum’s eBanking platform.

Here’s how staking ADA would go down:

  • Existing clients can stake ADA through their wallets and earn rewards
  • As always, the staking services are completely integrated with the banking platform
  • The bank guarantees institutional grade security with segregated wallets, multilayer security, and private key management. 

“Sygnum’s bank-grade staking offering, now including Cardano, offers our clients a broad selection of investment opportunities backed by the security and peace of mind of a regulated bank,” says Thomas Eichenberger, the Head of Business Units at Sygnum Bank.

Apart from Cardano (ADA), Sygnum offers staking for cryptocurrencies like ETH, ICP, XTZ, and more. 

What is Cardano (ADA)?

Launched in 2017, Cardano is a third-generation blockchain that emphasizes scalability, interoperability, and sustainability. It is the first project that underwent evidence-based scientific peer-reviewed processes before being launched. 

How Does It Affect You

  • Sygnum Bank is the first digital assets bank, and Cardano’s entry is a huge step for the project.
  • Clients would now be able to stake ADA via Sygnum’s banking platform, which is regulated.

The information provided on DecentReviews does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Do not treat any of the websites content as such. DecentReviews does not recommend that any cryptocurrency or blockchain asset should be bought, sold, or held by you. Conduct your own due diligence and consult your financial advisor before making any investment decisions.

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