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Licensed Swiss Crypto Bank Launches Tezos Trading and Staking
Sygnum Bank now offers trading and staking of Tezos, its first listing of a proof-of-stake cryptocurrency.
Sygnum Bank, a digital assets company licensed in Switzerland, has launched services for Tezos, its first listing of a proof-of-stake blockchain token.
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- Announcing the news Friday in a blog post, Sygnum said it now offers trading, staking and custody for tezos (XTZ).
- Users can earn rewards by staking XTZ with no minimum period and interest said to be "up to 5%" annually.
- The company is regulated as a bank by the Swiss Financial Market Supervisory Authority (FINMA), and offers a range of digital asset services with a focus on the B2B market.
- “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," said David Fuchs, head of enterprise adoption EMEA at the Tezos Foundation.
- Also today, Sygnum announced it tapped custody services from Taurus Group to keep deposits secure.
Also read: Swiss Arm of Russia’s Gazprombank Launches Institutional Bitcoin Offerings
Daniel Palmer
Previously one of CoinDesk's longest-tenured contributors, and now one of our news editors, Daniel has authored over 750 stories for the site. When not writing or editing, he likes to make ceramics.
Daniel holds small amounts of BTC and ETH (See: Editorial Policy).
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