Ethereum

Spot

Galler

The post <a href="https://coinpedia.org/news/ethereum-staking-hits-swiss-banking-sector-a-taurus-lido-collaboration/">Ethereum Staking Hits Swiss Banking Sector: A Taurus-Lido Collaboration</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The integration of Ethereum staking into the traditional banking sector is significant as Swiss-based cryptocurrency custody firm Taurus partners with Lido, a specialist in Ethereum staking.&nbsp; 
This collaboration aims to create a bridge between the world of digital assets and traditional finance, enabling Swiss banks to offer Ethereum staking services to their clients. 
<h2 class="wp-block-heading" id="h-taurus-lido-partnership-nbsp">Taurus-Lido Partnership&nbsp;</h2> 
The collaboration between Taurus and <a href="https://lido.fi/ethereum">Lido </a>signifies a pivotal moment for Swiss banks, allowing them to offer liquid staking solutions powered by Lido’s decentralized autonomous organization (DAO). Liquid staking involves locking up Ether on the blockchain and receiving a tokenized representation (stETH) that can be used for trading, enhancing liquidity within the decentralized finance (DeFi) ecosystem. 
“The goal is to build a bridge between the world of digital assets with the world of traditional finance,” states Victor Busson, CMO of Taurus, highlighting the increasing demand from banking clients for staking services. 
The move towards Ethereum staking by Swiss banks is not their first venture into the cryptocurrency space.&nbsp; 
Last year, <a href="https://www.theblock.co/post/260183/swiss-bank-launches-bitcoin-and-ether-custody-and-trading-services-in-partnership-with-seba">St. Galler Kantonalbank</a> (SGKB), one of Switzerland’s cantonal banks, launched custody and trading services for Bitcoin and Ether in collaboration with SEBA Bank. This marked a strategic step into the digital asset domain, with plans to expand offerings based on client demand. 
“We are very pleased to be able to support St.Galler Kantonalbank with our expertise in expanding their services around digital assets,” said Christian Bieri, Head of B2B and Custody Solutions at SEBA Bank. 
<h2 class="wp-block-heading" id="h-regulatory-clarity-nbsp">Regulatory Clarity&nbsp;</h2> 
Regulatory clarity, a crucial aspect of institutional involvement in Ethereum staking, has seen progress in Switzerland. Swiss financial regulator <a href="https://www.finma.ch/en/news/2023/12/20231220-meldung-am-staking/">FINMA </a>issued guidance on staking cryptocurrencies, addressing concerns and providing a framework for financial institutions.&nbsp; 
Vassili Lavrov, Head of Product at Taurus, sees a breakthrough opportunity for banks to embrace solutions like Lido, emphasizing that locked-up funds must be available to clients at any given time. 
“One open question that was clarified from a banking law perspective was that when funds are locked up, those funds must be available to clients at any given time,” explains Lavrov. 
<h2 class="wp-block-heading" id="h-ethereum-s-recent-price-surge">Ethereum’s Recent Price Surge</h2> 
Amidst these developments, Ethereum has experienced a notable surge in its price. Factors driving this rally include substantial inflows into Spot Bitcoin ETFs, anticipation of Ethereum ETF approval, the upcoming Bitcoin halving event, Ethereum’s impending Dencun upgrade scheduled for March 13th, and increasing adoption post-ETF approval.&nbsp; 
The current price of Ethereum stands at $2,758.56, reflecting a 4.43% increase in the past 24 hours and an overall positive sentiment in the market.

Ethereum Staking Hits Swiss Banking Sector: A Taurus-Lido Collaboration

目錄

CoinPedia News

在 2024年2月14日發表的其他文章

Ether ETF verdict: Gensler stays muted

Analyst Forecasts Major Uptick in VeChain’s Value

Fears of BNB liquidations loom despite bullish sentiment

Deceptive DeFi App Lures Users with Curve Finance Branding on Apple Store

Carbon acquires Vella Finance, to launch AI-Powered SME banking platform

Litecoin (LTC) Eyes February Revival Following Slow Start to the Year

訂閱免費電子報，每天收取加密貨幣最新動態！