An Ethereum account has just arrived on the SEBA bank

seba bank

The Merger continues, intended to revolutionize not only Ethereum, but also indirectly the entire cryptocurrency market get support from many organizations.

According to data revealed by the site CryptoQuant, there are more than 13.32 million Ethereum tokens so far it’s been promising. In order to make the most of the current trend, many cryptocurrency companies have recently focused on promising operations.

Among the latter, we see Coinbase, Binance and recently the cryptocurrency bank SEBA which announced the ETH 2.0 staking support.

Staking: What is it?

Staking is an alternative to the traditional token mining method used by most cryptocurrencies. It is considered less resource intensive than mining, which means mining a boon to the cryptocurrency industry it is often the target of criticism because of its prodigious expenditure of energy.

The stacking mechanism is quite simple to understand. For a user, it is this lend the funds kept in a crypto wallet (putting them in a liquidity pool) to secure blockchain network operations. By staking, an individual is responsible for locking cryptocurrencies to ensure the security of the network they are supporting. After achieving these goals, he can receive rewards in the form of cryptocurrencies.

The staking mechanism is at the heart of the Proof of Stake (PoS) System. The latter is also one of the reasons why The Merge of Ethereum is up and running. After the merger, Ethreum will move from the traditional mining mechanism provided by Proof of Work (PoW), to the more modern mechanism provided by Proof of Stake.

Support for Ethereum betting operations from SEBA bank

Although it is true that Ethereum is the second cryptocurrency in the world in terms of value, it is partners still needed expand and develop. Also, for The Merge of Ethereum to proceed smoothly, it is important that it receives the support of several important partners (beyond the technical side of course).

Support that the Ethereum Foundation had no trouble finding since many companies specializing in crypto-currencies have already announced their interest and support for the project.

Others have gone further by offering the possibility to their users to be actors of the new Proof of Stake system that Ethereum will adopt after the merger.

SEBA Bank is one of the companies that offers such an option. It is a globally recognized cryptocurrency bank based in Switzerland. Its role is access to the digital asset economy thanks to a range of banking services in accordance with the regulations in force.

As a leading player in the industry, the bank recently launched a new one Ethereum betting service. It is an institutional level offering that will give its customers the opportunity to earn rewards through Ethereum staking.

What are the benefits of this service for users?

This type of service was launched close to the end date of the The Merger it is not a trivial initiative. SEBA Bank chooses to offer this service in response to the growing need for institutions to manage the repayment of digital assets in a new way, as well as the growing demand for betting on decentralized finance platforms (DeFi).

The betting management platform developed by SEBA bank offers a a complete and integrated solution institutional level for its users. It allows them to generate rewards from their investments in Proof of Stake (PoS) type cryptocurrency networks.

SEBA bank and stakes

Therefore, Ethereum staking services will allow customers to earn rewards in a flexible and accessible way on a monthly basis. Users will have access to adjustable lock-up periods after the merger as well as a cost-effective fee structure to ensure the safety of their assets.

Thanks to its betting platform, SEBA bank offers its customers the opportunity to earn rewards by betting on the Ethereum network. Their assets will be completely secure through an institutional grade protection solution and a strict regulatory environment including deposit protection, storage insurance and capital requirements.

Moreover, this service does not only benefit customers and users of the bank. In fact, numerous analyzes prove that cryptocurrency institutions can play an essential role through the implementation of bets securing the Ethereum blockchain network.

The Merger could significantly change the landscape of the cryptosphere in the coming weeks, months or even years. Especially at the ecological level with cryptos consuming less energy that could have strong consequences for Bitcoin that uses the PoW mechanism.

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