Swiss Bank Sygnum Extends Staking Service to Cardano (ADA)

August 3, 2022

Reading Time: 2 minutes

After debuting the cryptocurrency staking years ago with Tezos staking, the world’s first digital assets bank Sygnum in a recent announcement disclosed its support for Cardano staking.

Henceforth, Sygnum customers will be able to stake ADA through the bank-grade staking platform to earn rewards.

Before this announcement, Sygnum has been offering on its platform Ethereum (ETH), Internet Computer (ICP), and Tezos (XTZ) staking, and now, Cardano, the eighth-largest cryptocurrency will be added for staking, making it the fourth cryptocurrency available on Sygnum platform for staking.

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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Importance of Sygnum Staking Service to Users

Sygnum offers one of the top crypto staking services among digital assets banks with its staking service fully integrated into the bank’s platform.

Users’ security is guaranteed through segregated wallets, secure private key management, and a multi-layer security infrastructure.

CEO of the Cardano Foundation, Frederik Gregaard was excited about the development, while welcoming Sygnum users to the Cardano ecosystem. He said that;

“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.

Additionally, Cardano’s state of the art architecture provides both retail and institutional clients a unique experience for ADA-holders. You always have the power over your ADA,” he added. 

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