European exchange group Boerse Stuttgart has announced a major step into Ethereum staking, offering users a secure, insured way to earn passive income through its Bison trading platform. By partnering with top German firms, Bison enables staking for as little as 0.005 ETH with weekly rewards. The service, currently only in Germany, promises annual returns of 2-5% and will soon expand to other cryptocurrencies.

Boerse Stuttgart Launches Insured Ethereum Staking Through Bison

Boerse Stuttgart announced on Tuesday the phased rollout of insured Ethereum (ETH) staking through its retail trading platform, Bison. As the sixth-largest exchange group in Europe and a leader in digital and crypto business, Boerse Stuttgart aims to provide users with secure and accessible staking options, the company explained, adding:

With this new feature, Bison customers can participate in staking from as little as 0.005 ETH and earn weekly rewards. Staking rewards are received by supporting the Ethereum network to achieve consensus or validate transactions.

This new service is supported by collaborations with German firms, including Munich Re, which provides insurance against slashing, technical issues, and fraud. “The introduction of staking responds to high demand from Bison customers,” the announcement states.

Available through the Bison mobile app, the staking service ensures fiduciary custody via a BaFin-licensed entity. With 840,000 active users in 72 countries, Boerse Stuttgart and Bison aim to deliver a secure, simple method for customers to engage in Ethereum staking alongside trusted German partners.

Bison CEO Dr. Ulli Spankowski commented:

With the introduction of staking at Bison, our customers now can make their cryptocurrencies work for them and generate passive income. Investors benefit from a simple and secure staking solution that was developed in collaboration with renowned German partners.

The staking service, initially available for users in Germany, offers annual returns between 2% and 5%, with plans to expand the cryptocurrency options in the future.

Source : Bitcoin News - Oct 9, 2024