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Swiss Sygnum Bank expands crypto staking with Cardano

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Cryptocurrency-friendly bank Sygnum Bank continues expanding its crypto services by launching support for Cardano (ADA) staking.Sygnum announced on Tuesday that the firm has expanded its bank-grade staking offering with Cardano, allowing clients to generate rewards by staking ADA via the bank’s institutional-grade platform.ADA joins Sygnum’s growing crypto-staking portfolio, which features three proof-of-stake (PoS) protocols; Internet Computer, Tezos and soon, Ethereum 2.0.According to the announcement, staking services make up an integral part of Sygnum’s platform and are available to clients through the bank’s eBanking platform.

The services are fully integrated with Sygnum’s banking platform, which is designed to provide institutional-grade security by applying segregated wallets, secure private key management and other tools.Staking is the process of participating in the validation of transactions on a PoS blockchain in exchange for staking rewards.

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