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- Ethereum stakers now have major insurance to cover up for “Slashing.”
- The offering comes from Bison and is backed by Munich Re Group.
Crypto trading platform Bison, powered by the Böerse Stuttgart Group, recently launched an insured staking service for Ethereum customers. The initiative aims to offer security against risks associated with crypto staking. It also allows customers to stake as little as 0.005 Ethereum (ETH) and earn weekly rewards.
Bison Partners With Munich Re and Staking Facilities
Bison launched the service with support from German companies, including Munich Re Group, an insurance firm, and Staking Facilities, a staking provider. The insurance is specifically created to cover the primary risk of “slashing.”
In the crypto industry, slashing refers to punitive actions against validators for inappropriate behavior.
Validators can lose their staked tokens when they err, whether through intentional malicious activities or infractions against the network’s governance rules. Thus, the launch of the insurance service added a layer of confidence for stakeholders. They can now operate with minimal potential losses to their investments
As CNF mentioned in a previous article, Munich Re’s policy covers technical failures, potential fraud, and operational errors. This allows customers to stake their ETH assets while protecting themselves against some of the most typical risks.
Bison also partners with Böerse Stuttgart Digital Custody to ensure compliance with German regulatory standards. The Böerse Stuttgart Digital Custody, licensed by the Federal Financial Supervisory Authority, holds all assets staked through Bison’s platform.
The launch of Bison’s insured ETH staking service comes shortly after Ethereum co-founder Vitalik Buterin expressed support for solo staking. Buterin agrees with reducing minimum staking deposits to around 16 to 24 ETH for solo stakers.
He believes the reduction will help move the network closer to greater decentralization and security.
Börse Stuttgart Collaborates With DZ
The latest initiative highlights the growing commitment from traditional finance to the digital asset industry. In September, DZ Bank, Germany’s second-largest bank, unveiled crypto trading and custody services in partnership with Boerse Stuttgart Digital.
The partnership will allow about 700 cooperative banks under DZ Bank’s umbrella to offer retail customers access to cryptocurrencies such as Bitcoin. The transition will occur in stages, beginning later this year, with chosen retail clients being the first to try the new crypto trading options.
As CNF previously discussed, the partnership aligns with a recent forecast that about 25% of Europeans will invest in crypto by 2028. Boerse Stuttgart Group CEO, Dr. Matthias Voelkel, highlighted the capabilities of its infrastructure to meet customers’ demand.
Voelkel said the firm is well-positioned as it prioritizes its customers’ needs. Through its partnership with DZ bank, Boerse has become the first established player in Europe to provide crypto access to retailers of this scale.
Boerse Stuttgart Digital takes pride in being a regulated trading and custody services platform that allows financial institutions to offer secure crypto access to retail users.
