Amina Bank has become the first regulated financial institution to offer staking for Polygon’s POL token, enabling institutional clients to earn rewards of up to 15%.
The bank, located in Zug and licensed by the Swiss Financial Market Supervisory Authority (FINMA), announced on Thursday its 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,” said Myles Harrison, the Chief Product Officer of Amina.
Maria Adamjee, the Head of Investor Relations at Polygon Labs, clarified that staking rewards are determined by validator yields. If an institution acquires and stakes POL, it currently garners around 4% validator yield, plus a one-time bonus of an additional 10% in POL after a year.
“That’s how we arrive at the ‘up to 15%’ figure mentioned — it combines network yield with the one-time bonus incentive,” explained Adamjee. “The base yield is variable and depends on network performance, while the bonus POL is fixed for participants who maintain their stake for a full year.”
Early interest in these staking services has been observed from asset managers, corporate treasuries, and family offices, according to Adamjee. She noted that “the combination of rewards, airdrops, and network participation is proving quite attractive.”
Polygon Surpasses $1 Billion in Tokenized Assets
Polygon underpins significant Web3 initiatives from major players such as BlackRock, JPMorgan, Franklin Templeton, and Stripe. It has also established itself as a focal point for tokenization and on-chain finance.
Additionally, Amina Bank, formerly known as Seba Bank, recently reported a remarkable growth of 69% in year-over-year revenue to $40.4 million and a surge of 136% in assets under management, reaching $4.2 billion.
Coinbase to Offer Staking in New York
As staking services grow in popularity, Amina Bank’s offering coincides with Coinbase receiving approval to provide staking services to New York residents.
