As stated by Khurram Shroff, Dubai-based entrepreneur and Chairman of IBC, Dubai's IBC Group is going to stake $10 million worth of Ether.
Through a partnership with CanETH, a Canada-based Ethereum staking service, IBC group will stake a total of 21,984-ETH. Considering that each Validator will have to stake 32-ETH, the Dubai investment firm will represent 687 validators within the Ethereum 2.0 consensus mechanism.
As reported by tradearabia.com, the Chairman of IBC Khurram Shroff said: "We are very excited by the Proof of Stake concept proposed for the Ethereum 2.0 smart contracts and we are locking up 20,000-ETH. This lockup shows our confidence in ETH2.0 and dedication to the beacon chain."
Etherum 2.0 POS is expected to be launched on December 1st, if at least 524,288-ETH will be gathered in the ETH2.0 deposit adress. Currently more than 105,000-ETH have been deposited and are ready to be staked.
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