Coinbase Custody Extends Crypto Staking to Global Investors
Marie Huillet's original article for cointelegraph.com reduced by 58%
The institutional asset custody arm of United States-based crypto exchange Coinbase has announced it is transitioning to an internationally-based staking service as of Nov. 21. In rolling out its staking services to a global investor base, Coinbase Custody appears to be leveraging its brand recognition to promote staking as a key emergent investment strategy for the blockchain and cryptocurrency space.
The announcement states the custodian intends to offer all of its global clients "Appropriate access to crypto first features like staking." Coinbase Custody has been offering an institution-grade staking service for Tezos as of March 2019 - subject to jurisdictional eligibility requirements - with the company's flagship exchange rolling out support for XTZ staking to U.S. clients earlier this month. During the protracted crypto winter of 2018, staking was pitched as an investment "Survival" strategy by crypto fund managers and analysts, with many emphasizing that HODLers going long may as well stake to reap the "Interest." The narrative that staking is set to have a major impact on the industry has recently been aired by top crypto exchange Binance's research arm, whose report has looked at the impact of token lock-ups on liquidity and compared the potential risk-return profile of staking as a passive investment strategy vs.
active trading. As the Ethereum network gears up for its eventual transition to PoS-based Ethereum 2.0., a senior ConsenSys executive has recently revealed that Ethereum 2.0 validators can expect to earn from 4.6% to 10.3% as rewards for staking on an annual basis.
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CN [too long; didn’t read]
Summarised crypto news.