Hassan Maishera
TL;DR
-
Crypto exchange Gemini has launched Ether and Solana staking for all customers in the U.K.
-
Gemini users in the U.K. can now stake any amount of ETH or SOL and earn rewards, with up to 6% APR for Solana and a variable rate for ether.
ETH and SOL Staking Now Available to Gemini U.K. Users
Gemini, the crypto exchange founded and led by Tyler and Cameron Winklevoss, announced earlier this week that it has launched its staking services in the U.K., allowing all customers to earn rewards on ether (ETH) and Solana directly through its platform.
The cryptocurrency exchange stated that,
“Through Gemini Staking, users in the region will be able to stake with any amount of ETH or SOL and earn up to 6% APR (annual percentage rate) for SOL, and a variable rate for staking ETH. Previously, staking had only been available to UK users who staked at least 32 ETH through Staking Pro.”
This latest development comes shortly after the opening of Gemini’s first permanent office in London, with the company looking to strengthen its position in the region.
Staking is popular within the crypto space as it allows investors to lock up tokens to help secure proof-of-stake blockchains in exchange for rewards.
According to Gemini, its staking products simplify participation in proof-of-stake networks. The crypto exchange told its users that rewards accrue daily and can be tracked in the app.
Last week, Gemini secured a Markets in Crypto Assets (MiCA) license from the Malta Financial Services Authority (MFSA) as it looks to expand its services across the European Union.
