Swiss state-owned bank PostFinance a crypto-friendly bank has announced on its website that it has included an Ethereum staking option in its banking offerings.
The financial institution owned by the Swiss government said that this staking feature will empower the customers to earn passive income when they deposit as little as 0.1 ETH.
PostFinance said that its users who are willing to earn rewards from its staking feature can access it through e-finance. It also highlighted that the users could use this feature on its banking firm’s app for Ethereum only.
Additionally, it stated that Ethereum remains the only acceptable option for staking on its platform. However, it has plans to include more crypto options later on. PostFinance has mentioned that such additions would happen shortly.
According to the Switzerland-based bank’s official announcement, “Staking means depositing cryptocurrencies for a specified time. The staked tokens become valuable assets for the blockchain involved by supporting its security and other operations”.
As per reports, to encourage more traders to stake their valuables, the blockchain has offered rewards, which explains the concept of earning passive income.
It has stated that earning on regular intervals in staking income will require crypto deposits, lasting for at least 12 weeks.
Dr Alexander Thoma spoke about the banking institution’s latest staking functionality highlighting, “It has features that include simplicity, security, transparency, and cost-effective staking, which requires as little as 0.1 ETH”.
However, the Bank is going to offer Ethereum staking to its 2.7 million customers, who make up roughly a quarter of the Swiss population.
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