New Horizons for Staking at Sygnum Bank
In a move that could make crypto enthusiasts do a happy dance, Sygnum Bank has just rolled out support for Cardano (ADA) staking. On a Tuesday that otherwise seemed like just another day, Sygnum decided to inject some excitement into the world of cryptocurrency, making ADA available for staking on its institutional-grade platform.
What’s on the Menu?
Cardano brings its unique flavor to Sygnum’s already rich menu of crypto-staking options. With ADA joining the ranks alongside Internet Computer, Tezos, and soon-to-be Ethereum 2.0, there’s plenty for investors to sink their teeth into.
How Staking Works: A Beginner’s Guide
If you’ve ever wondered how staking functions, picture this: instead of mining, which feels a bit like panning for gold in a digital river, staking is about locking up your coins to help validate transactions. Think of it as a financial trust-fall, with your ADA safely tucked away while the network gives you a little something back in return.
The Tech that Keeps Your Assets Safe
Sygnum is not just throwing around the term “bank-grade” for fun. Their services are integrated with robust security measures like segregated wallets and top-notch private key management. So, worry not! It’s not only your cryptos that are safe, but they’re also in the hands of a regulated institution.
More Clients, More Opportunities
With Sygnum approaching the milestone of 1,000 institutional clients, the addition of Cardano staking is expected to entice even more investors into the crypto scene. The rapid growth in Sygnum’s revenues — which saw a tenfold increase in 2021 — indicates just how promising this trajectory looks.
A Word from Cardano’s CEO
Frederik Gregaard, the CEO of the Cardano Foundation, emphasized the win-win aspect of this partnership. He reassured potential stakers that the experience would be “risk-free” and highlighted how ADA holders ultimately maintain control of their assets. Sounds like a sweet deal, right?
What’s Next for Cardano?
As anticipation builds around the upcoming Cardano Vasil hard fork, companies across the spectrum are busy working on Cardano-focused services. With the potential to supercharge the network’s speed and scalability, the hard fork promises to make Cardano a prime choice for smart contracts and decentralized applications.
So, as we sit on the edge of our seats, it looks like the crypto world is set for a thrilling ride.
