InCore Bank will offer Ethereum (ETH) staking to their clients using SDX Web3 services. ETH staking will become an important yield opportunity when the upcoming Shapella Release is implemented as this will enable the withdrawal of ETH coins that are allocated to staking.
InCore Bank can now offer Ethereum staking capabilities that are fully compliant with Know-Your-Client (KYC) and Anti-Money-Laundering (AML) regulations. In this collaboration, InCore Bank provides crypto brokerage, banking operations and custody services, while SDX Web3 provides crypto custody and non-custodial-staking services.
The Zurich-based private bank Maerki Baumann launched its crypto strategy in 2019. Apart from corporate accounts for companies focusing on blockchain technology and crypto applications, it offers services in crypto trading and custody in collaboration with InCore Bank. Maerki Baumann will continue expanding its crypto offering by making the new Ethereum staking services available to its private and corporate tech banking clients.
Mark Dambacher, CEO InCore Bank, stated, “We perceive an increasing interest in staking and ways to participate in the decentralized economy. InCore Bank’s fully integrated and future-oriented staking services via segregated wallets, enable us to offer staking within a convenient, secure, regulated and tax compliant setting. We are proud to be part of this strategic alliance with SDX”.
David Newns, Head of SDX adds: “This collaboration between established digital asset institutions is the first of its kind in Switzerland. We are strengthening the Swiss digital asset ecosystem by enabling key market players to provide value adding capabilities like Ethereum custody and staking their clients are asking for.”