Can I use stETH as collateral?

Could you please explain to me if it's permissible to utilize stETH as collateral for any financial transactions? I'm particularly interested in understanding the logistics behind this process, including any potential risks or benefits associated with using stETH in such a manner. Could you also elaborate on any prerequisites or specific steps I need to take in order to do so? I'm keen to understand the full scope of what's involved before making any decisions. Thank you for your assistance in clarifying this matter.