Coinbase expands Tezos staking service to four new countries
- Coinbase is expanding its Tezos (XTZ) staking service to the UK, Spain, France and the Netherlands.
- This move will permit the users of these countries to earn XTZ staking rewards of about 5%.
- Despite charging a high fee of 25%, Coinbase is the largest operator of a Tezos staking validator.
Coinbase is expanding its Tezos (XTZ) staking service to the UK, Spain, France and the Netherlands. This will allow its users based in these countries to earn XTZ staking rewards of about 5%. The initial holding period to earn returns is around 35 to 40 days. Later, the rewards will get credited every three days.
Back in November, Coinbase had extended its Tezos staking service to users based in the US. The service was initially available only for institutional clients. Recently, the exchange revealed that its US customers had earned more than $2 million in Tezos staking rewards since introducing the service.
Despite charging a high fee of 25%, Coinbase is the largest operator of a Tezos staking validator. Following its lead are Kraken and Binance. Just last week, Coinbase launched staking services for Cosmos (ATOM) and Algorand (ALGO).
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
