- Bison has launched a new staking service for Ethereum users.
- The service is insured in partnership with a leading company in Germany.
- It offers other benefits of a regulated crypto product in Germany.
Boerse Stuttgart Group-owned crypto exchange Bison announced Tuesday the launch of its insured and “Made in Germany” Ether staking service.
Founded in 2019, Bison provides a comprehensive trading platform for crypto, stocks, and ETFs in Germany, Austria, and Switzerland. According to its website, the exchange’s app serves over 850,000 users, including people from 72 nations with permanent residence and a regular place of living in a state that is a contracting party within the framework of the EEA agreement or in Switzerland.
Bison’s New Staking Product for Ether Users
In a press release on October 8, Bison said it had initiated a phased roll-out of its Ethereum staking offering on Tuesday, allowing users to stake “as little as 0.05 ETH” and earn weekly rewards.
Sponsored
Per the statement, Bison has partnered with various leading companies in Germany for the product, including primary insurance and reinsurance provider Munich Re and staking provider Staking Facilities.
The service integrates staking insurance developed in collaboration with Bison and Munich Re, providing cover for slashing risk and protecting against technical failures, fraud, and operator errors that could lead to partial or full loss of the staked Ether.
“Investors benefit from a simple and secure staking solution that was developed in collaboration with renowned German partners. The advantages of staking with BISON include low minimum amounts, fiduciary custody by BaFin-licensed Boerse Stuttgart Digital Custody GmbH, and innovative staking insurance,” Bison co-founder and CEO, Dr Ulli Spankowski stated.Bison said the annual percentage rate (APR) for Ether staking is set between 2% and 5%, depending on the blockchain protocol.
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