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Bison has partnered with Munich Re and Staking Facilities to offer insured Ether staking, covering risks like slashing and fraud.
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Bison, a cryptocurrency trading platform owned by the Böerse Stuttgart Group, has introduced an insured staking service for Ethereum users.
The new staking feature will allow customers to stake as little as 0.005 Ether (ETH) and earn weekly rewards.
The initiative is supported by German companies, including the global reinsurance firm Munich Re, which offers security against the common risks associated with cryptocurrency staking.
Related: Börse Stuttgart, ECB cut settlement time in blockchain test
Staking with insurance
Bison’s partnership with Munich Re and Staking Facilities — a German staking provider — will enable the crypto trading platform to provide insured ETH staking.
The insurance is designed to cover the primary risk of “slashing,” which occurs when a network penalizes validators for improper actions, potentially leading to a loss of staked ETH.
Munich Re’s policy also protects against operational errors, technical failures and potential fraud, meaning users can stake their assets with protection against some of the most common risks of staking.
Related: DZ Bank partners with Boerse Stuttgart for crypto trading
Regulated staking
All assets staked through Bison’s platform are held by the Federal Financial Supervisory Authority-licensed Böerse Stuttgart Digital Custody, ensuring compliance with German regulatory standards.
Meanwhile, Ethereum co-founder Vitalik Buterin expressed support for solo staking.
Buterin acknowledged the idea of dropping minimum staking deposits to around 16–24 ETH for solo stakers to push the network toward improved security and decentralization.
Related: Deutsche Börse-owned Crypto Finance gets German licenses, parent readies exchange launch
Börse Stuttgart, DZ partnership
On Sept. 19, Börse Stuttgart Digital, the group’s crypto division, partnered with DZ Bank to provide customers with crypto trading and custody services.
The partnership will enable approximately 700 cooperative banks under DZ Bank’s umbrella to offer retail customers digital asset access to cryptocurrencies like Bitcoin (BTC) and ETH.
The move will involve a phased roll-out plan beginning later this year and will initially enable select retail clients to test the new crypto trading options.
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This article first appeared at Cointelegraph.com News
