Mathias Schütz, executive of SEBA Bank, believes that institutions can also play a role in protecting the Ethereum network by staking Ether.
As the Ethereum network transitions from Proof-of-Work (PoW) consensus to Proof-of-Stake (PoS), the digital asset platform has introduced a service where institutions can stake Ether (ETH). Swiss digital asset banking platform SEBA Bank said in a statement sent to Cointelegraph that it has launched an Ethereum participation service for institutions that want to make money by investing in the Ethereum network. According to the company, the move is in response to growing institutional demand for decentralized finance (DeFi) services.
According to Mathias Schütz, Executive of SEBA Bank, the company believes that institutions can also play a role in securing the Ethereum network by involving ETH. Schutz explained:
The launch of our Ethereum stake service will allow institutional investors to play a key role in securing the future of the network through a trusted, secure and fully regulated counterparty.
The executive believes that the upcoming merge is a very important milestone for the network in terms of security, scalability and sustainability. Schütz also added that the adoption of ETH measures by institutions allows their companies to keep up with the fast-growing digital asset space. In anticipation of the Ethereum merge, other companies besides SEBA bank have started offering collateral services. In June, cryptobank Anchorage Digital also announced an ETH investment service for institutional clients. Diogo Mónica, co-founder of Anchorage Digital, said institutional involvement in the ETH project is a “win-win” situation for both the ecosystem and the institution.
At the same time, Ethereum mining pool Ethermine created a new pool of staking where users can collectively stake ETH and earn interest. Users can join the pool with a minimum of 0.1 ETH. However, the platform notes that lower participation means higher fees. The platform currently offers 4.43% APR on ETH rates.
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