Swiss cryptobank Sygnum added support for Tezos cryptocurrency stealing

Sygnum was the first regulated bank to add support for Tezos (XTZ) cryptographic currency stealing.

According to the press release of 6 November, the bank will provide storage, trading, lending and stealing services for XTZ. Estimated annual revenue from Tezos stacking is about 5%.

Sygnum is regulated as a bank by the Swiss Financial Market Authority (FINMA) and offers a range of services in the field of digital assets.

„Sygnum’s offer of the Tezos Stacking Service is proof of the safety and reliability of the network and is another step towards wider acceptance at the institutional level,“ said David Fuchs, Head of European Institutional Investor Relations at the Tezos Foundation.

In May, Bitcoin Suisse, a Swiss cryptographic brokerage company Bitcoin Trader review, added XTZ stacking support for institutional clients. Today, the custodial division of Coinbase is the largest validator in the Tezos network.