Switzernand based fully regulated crypto bank Sygnum became the first regulated bank to launch staking service for major cryptocurrency.
Tezos (XTZ) is one of the major cryptocurrencies, sitting at #19 in cryptocurrency market capitalization according to Coinmarketcap.
Tezos is a blockchain protocol which allows its users to build decentralized applications on its network.
Starting today, bank users will be able to lock their Trezos (XTZ) to get a yearly staking rewards of up to 5%/year
Staking is the act of locking cryptocurrencies in order to receive staking rewards. The staked cryptocurrency will be locked for a defined time period, making it nontransferable. Upon completion of the defined staking time period the currency amount unlocks and the user received a pre-defined percentage of total staked amount as a reward.