Bitstamp, a crypto exchange owned by Robinhood (NASDAQ: HOOD), is offering staking for UK customers. Staking is a method where holders of digital assets that utilize Proof of Stake may generate passive income for investors. UK account holders maintain ownership of their crypto while generating income.
The new offering, “Bitstamp Earn Staking,” is reportedly regulated by UK authorities.
UK customers will now be able to stake Ethereum (ETH) directly from their Bitstamp accounts. Customers depositing Cardano (ADA) in their Bitstamp Earn accounts will automatically benefit from staking.
Bitstamp stated that it will offer flexible staking periods with potential returns at up to 3.10% APY on ETH and 1% APY on ADA. Earnings will be paid out on a weekly or monthly basis, depending on the asset.
Bitstamp added that it does not impose any lock-up periods or conditions for staking independently from the protocol, but lock-up periods and conditions may apply depending on the PoS network, as well as staking commission fees.
James Sullivan, Group General Counsel at Bitstamp, said that evolving crypto regulations in the UK are seeking to enable innovation while safeguarding investors.
“Our new staking service offers UK customers a reliable, compliant way to earn up to 3.1% APY, demonstrating how regulatory clarity can drive responsible innovation.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!
