Swiss regulated bank Sygnum now offers XTZ and staking rewards to its clients

Swiss regulated bank Sygnum now offers XTZ and staking rewards to its clients

By Allen Walters | Publish0x posts | 7 Nov 2020

Last week,Taurus announced it enabled a secure Tezos staking infrastructure for institutional use-cases. Taurus offers enterprise-grade market infrastructure solutions for digital assets as well as other financial services to institutional clients. Today, Swiss regulated bank Sygnum announced it now offers XTZ custody, trading, credit and stakingrewards to its clients. XTZ is Tezos' native token. This is the first time XTZ can be deposited and staked with a regulated bank. XTZ can be staked and unstaked without any minimum withdrawal period. Tezos is the only Proof of Stake currency offered by Sygnum.

“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,”

  David Fuchs, Tezos Foundation Head of Enterprise Adoption EMEA, hinted at future introduction of Tezos-based Security Token Offerings to be offered at Sygnum. “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.”   


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Allen Walters
Allen Walters

Fascinated by blockchain and future proofing cryptocurrency. Discover the tech before it gets relevant. Twitter: @IgnoranceIt

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