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Swiss Bank Sygnum Adds Cardano (ADA) to Its Bank-Grade Staking Offering

thecryptobasic.com 02 August 2022 09:57, UTC
Reading time: ~2 m

Swiss bank Sygnum has announced that it has added Cardano (ADA) to its staking offering. 

The company noted in an announcement today that its customers will be able to stake ADA, the eighth-largest cryptocurrency, via its bank-grade staking platform, to earn rewards. 

📰 📣 News: Sygnum Bank expands bank-grade staking portfolio with the Cardano blockchain’s native cryptocurrency, ADA

Read the full announcement here 👇https://t.co/WlJkJ7Q20I

— Sygnum Bank (@sygnumofficial) August 2, 2022

Following the development, ADA will be added to the list of cryptocurrencies Sygnum already offers for staking. Prior to the announcement, Sygnum offered staking on three cryptocurrencies, including Ethereum (ETH), Internet Computer (ICP), and Tezos (XTZ). 

With the addition of ADA, the cryptocurrency has become the fourth coin that Sygnum offers for staking to its clients. 

Commenting on the development, Thomas Eichenberger, Head of Business Units at Sygnum Bank, said: 

“As institutional adoption of digital assets continues to ramp up, demand for the ability to earn rewards alongside upside from the underlying protocols also continues to rise. Signum’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.”

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