30s Summary

Bison, a digital currency platform of Böerse Stuttgart Group, has launched an insured staking service for Ethereum users. These users can stake as little as 0.005 Ether and earn weekly rewards, with coverage against risks provided by Munich Re insurance. The service, regulated under German law, safeguards against technical glitches, operating mishaps, fraud, or “double signing.” Bison is also in collaboration with German staking provider, Staking Facilities. Böerse Stuttgart Digital Custody holds staked assets. Böerse Stuttgart Digital has also partnered with DZ Bank to enable crypto trading and custody services for its customers.

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Just a quick heads up: we’ve updated this article a bit to include some additional info from Munich Re and to make it clear that the insured staking service we’re talking about is regulated under German law specifically.

Let’s talk about Bison, a digital currency trading platform that’s part of the Böerse Stuttgart Group. They’ve recently set up an insured staking service catered to Ethereum users.

This awesome new feature lets users stake as little as 0.005 Ether (ETH) and earn cool weekly rewards. The cherry on top? The service is backed by some big names in Germany, including Munich Re, a global insurance firm. Their involvement means users can rest a bit easier knowing they’ve got coverage against the usual risks that come with staking cryptocurrency.

In a chat with Cointelegraph, a rep from Munich Re explained a bit more about how the insurance works. The policy covers what’s called “double signing,” which is basically when a validator breaks certain Ethereum network rules. Beyond this, the insurance also helps protect against any damages caused by technical glitches, operating mishaps, or even fraud, all of which could cause a loss of the ETH you’ve staked.

What’s cool about this is that Bison is working with not just Munich Re, but also Staking Facilities, a German staking provider. These collaborations give Bison’s users access to insured ETH staking. The insurance is specifically designed to help you bounce back from “slashing” – that’s when the network penalizes validators for messing up, which could result in losing your staked ETH. And with Munich Re’s policy also covering operational blunders and technical failures – plus potential fraud – you’ve got a safety net for many of the most common staking risks.

On top of that, any assets you stake via Bison’s platform are held by Böerse Stuttgart Digital Custody, which has full licensing from the Federal Financial Supervisory Authority. This certifies the compliance with German regulations, giving users even more peace of mind.

Meanwhile, on the Ethereum front, co-founder Vitalik Buterin has been voicing support for solo staking. He’s thrown around the idea of decreasing minimum staking deposits for solo stakers to around 16–24 ETH. He’s keen on boosting network security and pushing for more decentralization.

Switching gears a bit, let’s talk about a collaboration between Börse Stuttgart Digital and DZ Bank. They’ve recently joined forces to provide customers with the option to trade cryptocurrencies and keep them in secure custody services.

This partnership is set to empower around 700 banks under DZ Bank’s umbrella, allowing them to serve up access to digital assets like Bitcoin (BTC) and ETH to everyday customers. The plan is to slowly start rolling this out later this year, kicking things off by letting a handful of retail clients test out the new crypto trading options.

Source: Cointelegraph