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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Sygnum Bank Launches ETH 2.0 Staking – Business Unit Head Says ‘Staking Is a Core Element for Portfolios’

Sygnum Bank Launches ETH 2.0 Staking - Business Unit Head Says 'Staking Is a Core Element for Portfolios'

The Switzerland-based bank Sygnum revealed on Tuesday that the firm now allows Ethereum 2.0 staking. The FINMA-approved company’s customers can access the Ethereum-based staking services via Sygnum’s banking platform.

Sygnum’s Banking Platform Offers Ethereum 2.0 Staking

Last November, Sygnum Bank AG revealed that it is partnered with the company Taurus Group, a firm that also works with SEBA bank and other Swiss fintech services. The financial services company also detailed at the time that Sygnum would offer customers crypto staking accounts.

The partnership with Taurus also revealed the staking accounts available would leverage the Tezos network, a proof-of-stake (PoS) blockchain. Now Sygnum is allowing customers to stake ethereum (ETH) via the fintech firm’s banking platform. Sygnum considers itself the first FINMA-approved bank to enter into the ETH 2.0 staking space.

“Ethereum is the second-largest blockchain protocol, and ethereum staking is a core element for digital asset portfolios which can now be accessed in a convenient, secure and regulated setting”, the head of business units at Sygnum Bank, Thomas Eichenberger said in a statement.

“This further expands Sygnum’s offering of attractive, regulated yield generating products to meet the needs of clients to accumulate other forms of return in addition to capital appreciation,” Eichenberger added.

JPMorgan Estimates Crypto Staking Could Be a $40 Billion Industry by 2025

Sygnum Bank’s ETH 2.0 staking offering follows the investor’s note written by the banking giant JPMorgan last week. JPMorgan discussed the Ethereum 2.0 staking shift and estimated that cryptocurrency staking could be a $40 billion industry by 2025.

Sygnum’s head of accounts and custody details in the bank’s latest announcement that “staking is a compelling choice for long-term investors in Ethereum.” Thomas Brunner, the bank’s head of accounts and custody said Sygnum clients can “benefit from potentially higher staking rewards now.”

Statistics show that the Ethereum 2.0 deposit contract has recently exceeded 6 million ether and ETH is one of the most leveraged staking networks today. The Ethereum 2.0 deposit contract allows users to stake ETH in the ETH 2.0 phase 0 beacon chain.

What do you think about Sygnum Bank AG offering ethereum staking? Let us know what you think about this subject in the comments section below.

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