Update (Oct. 9, 12:30 pm UTC): This article has been updated to include additional commentary from Maria Adamjee.
Swiss crypto bank Amina Bank has become the first financial institution to offer staking services for POL, the native token securing the Polygon network.
The Zug-based bank, licensed by the Swiss Financial Market Supervisory Authority (FINMA), said on Thursday that it will provide institutional clients with up to 15% in staking rewards through a new partnership with the Polygon Foundation.
“Our expansion of POL services provides institutional clients with regulated access to the blockchain, enabling our clients to be rewarded for providing stability and security to a blockchain network used by some of the biggest financial institutions,” Amina’s chief product officer Myles Harrison said.
Maria Adamjee, head of investor relations at Polygon Labs, explained that staking rewards are calculated based on validator yields. She said if an institution purchases and stakes POL, they currently earn around 4% validator yield. On top of that, they’ll receive an additional 10% bonus in POL after staking for one year.
“That’s how we arrive at the ‘up to 15%’ figure mentioned — it combines the network yield with the one-time bonus incentive,” she told Cointelegraph. “The base yield is variable and depends on network performance, while the bonus POL is fixed for participants who maintain their stake for the full year,” Adamjee added.
Adamjee said they are seeing early interest from asset managers, corporate treasuries, and family offices. “The combination of rewards, airdrops, and network participation is proving quite attractive,” she noted.
Related: DeFi staking: A beginner’s guide to proof-of-stake (PoS) coins
Polygon surpasses $1 billion in tokenized assets
Polygon (POL) underpins major Web3 initiatives from financial giants like BlackRock, JPMorgan, Franklin Templeton and Stripe. The network has also become a hub for tokenization and onchain finance.
According to data from RWA.xyz, Polygon ranks third among all blockchains in real-world asset (RWA) tokenization, with over $1.13 billion in total value spread across 273 tokenized assets. Ethereum remains dominant with a 56% market share.
Top 10 RWA blockchains. Source: RWA.xyzIn May, Amina Bank, formerly Seba Bank, posted record 2024 results with revenue up 69% year-over-year to $40.4 million and assets under management surging 136% to $4.2 billion, driven by strong institutional demand and global expansion.
Related: Grayscale stakes $150M ETH as SEC altcoin ETF deadlines approach
Coinbase to offer staking in New York
Amina Bank’s latest offering comes amid growing interest in staking services. On Wednesday, Coinbase received approval from New York regulators to offer staking services to residents, allowing users to earn rewards on assets such as Ether (ETH) and Solana (SOL).
On Monday, Grayscale became the first US-based crypto fund issuer to introduce staking for its exchange-traded products (ETPs), starting with its Ethereum and Solana funds.
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Source: https://cointelegraph.com/news/amina-bank-launches-polygon-pol-staking-for-institutions?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
