London hard fork tentatively set for 8/4, Sygnum becomes the first "bank" to offer Ethereum 2.0 staking services

The Swiss bank Sygnum has announced that it will offer Ethereum 2.0 staking services, allowing users to earn a 7% annual yield, making it the world's first "bank" to provide Ethereum staking services.

Digital Asset Bank Sygnum

Sygnum, although holding traditional banking licenses, operates as a crypto bank, providing services related to cryptocurrencies to private investors and corporate clients. It also offers services such as Tezos XTZ staking and Swiss Franc stablecoin savings.

Additionally, on 6/15, Sygnum announced the launch of custody and trading services for a range of DeFi tokens, including Aave, Aragon, Curve, Maker, Synthetix, Uniswap, and 1inch.

Furthermore, Sygnum has also planned related yield products for USDC stablecoin users.

Ethereum 2.0 Staking

According to data from Dune Analytics, the total value of USD staked in the Ethereum 2.0 contract has exceeded 14.8 billion, accounting for 5.32% of the circulation. Despite a significant price correction, the staking amount continues to grow steadily.

The minimum number of Ethereum staking is set at 32, with the current cost approximately 76,160 USD. Users also need to run nodes themselves, creating opportunities for other service providers to offer delegated staking, eliminating the minimum number of tokens restriction and simplifying the staking process.

However, many cryptocurrency exchanges, including Binance, Coinbase, and Kraken, also provide Ethereum 2.0 staking services.

London Hard Fork on 8/4

The "London Hard Fork," expected to introduce significant updates such as EIP-1559, was originally scheduled for this month. However, core developer Tim Beiko announced yesterday that it will be executed around block height 12,965,000, between 21:00 on 8/4 to 01:00 on 8/5 (Taiwan time).

Nevertheless, EthHub co-founder Anthony Sassano tweeted stating that the final execution date will be decided on this Friday.