Sirlibz
Sygnum bank, a digital asset company that is licensed in Switzerland has announced it’s first listing of proof-of-stake blockchain token, Tezos (XTZ). The launched service will allow users store, trade and stake on the exchange platform. Users that stake will earn rewards in XTZ with no minimum period and interest is reportedly 5% annually.
Sygnum’s offering of Tezos staking services serves as validation of the network’s security and longevity, and is yet another step on the path towards major institutional and enterprise adoption. We look forward to partnering with Sygnum on more Tezos-based offerings in the future.” Tezos Foundation Head of Enterprise Adoption EMEA David Fuchs said.
Sygnum is the first regulated bank to launch staking for Tezos (XTZ), secure custody, trading, credit and staking service for the coin is now available on the bank platform. Staking can be withdrawn or discontinued at any point in time decided by the user.
The launch of this service has enabled Sygnum to further strengthen it’s multi-custody platform which includes Taurus protect and a strategic partnership with Custodigit , which leverage Metaco. The Sygnum API allows the bank to offer an ever-expanding range of services to banks and other financial institutions. The bank also has dealings with Swiss HSM provider Securosys to custodise it’s DCHF, as well as asset tokens.
“We are strong supporters of Tezos and its unique Liquid Proof-of-Stake governance mechanism, which aligns with our Sygnum values,” says Martin Burgherr, Sygnum Bank’s Chief Clients Officer. “With XTZ staking, our clients can access a unique asset which offers staking rewards and enables them to structure their digital asset portfolios in more creative ways. Tezos is the first Proof-of-Stake (PoS) token on Sygnum Bank’s platform, where we are continually expanding our offering to provide more choice for our clients,” he adds.
About Sygnum
Sygnum is the world’s first digital asset bank, and a digital asset specialist with global reach. With Sygnum Bank AG’s Swiss banking licence, as well as Sygnum Pte Ltd’s capital markets services (CMS) licence in Singapore, Sygnum empowers institutional and private qualified investors, corporates, banks and other financial institutions to invest in the digital asset economy with complete trust. Sygnum operates an independently controlled, scalable and future-proof regulated banking platform. Our interdisciplinary team of banking, investment and Distributed Ledger Technology (DLT) experts is shaping the development of a trusted digital asset ecosystem. The company is founded on Swiss and Singapore heritage, and operates globally. To onboard digitally with Sygnum, please visit www.sygnum.com.
