Crypto-friendly Swiss digital bank, Sygnum bank has launched a new Cardano (ADA) staking reward program for it’s costumers. Sygnum announced on Tuesday that it has expanded it’s staking offering, adding Cardano to the mix. Clients can now earn staking rewards when they stake Cardano (ADA) via the bank’s platform.

The announcement said that the staking services are an integral part of Sygnum’s platform and are available to all their clients via the bank’s eBanking platform. The staking services are fully integrated to Sygnum’s banking platform which is designed to provide optimum first-grade security by applying secure private key management, segregated wallets and other tools.

Sygnum first offered cryptocurrency staking services to it’s clients about two years ago when they announced Texos staking in November 2020. They added Ethereum 2.0 staking to their staking portfolio in July 2021 and have now announced Cardano staking. The addition of this new staking service will allow many institutional investors to increase their exposure to this asset.

Cardano Foundation CEO, Frederik Gregaard said that the new offering will allow Sygnum’s clientele to enter and participate in the Cardano ecosystem where they will enjoy a staking experience that is risk-free as they don’t have to transfer or lock the asset. He also added that Cardano’s unique structure allows both retail and institutional clients to access unique opportunities for ADA holders.

Because of the upcoming Cardano Vasil hard fork, many cryptocurrency companies have been integrating cardano-focused services into their platforms. The hard fork will expectedly improve the speed and scalability of the Cardano network, making it more suited for decentralized applications and smart contracts. The Cardano Vasil hard fork was delayed again in July after failing to go live. Proceedings with the hard fork might take another few weeks according to Input Output Global.

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