Binance.US, the American arm of the world’s largest cryptocurrency exchange, has launched a blockchain staking product promising high yields on staked crypto, with the aim of outflanking similar offerings from rival U.S.-based exchanges.
The staking service – where users lock in assets to support proof-of-stake (PoS) networks – enables users to earn up to an 18% annual percentage yield (APY) on certain tokens, the company announced on Tuesday.
Big exchanges simplify the staking of crypto tokens, for which they take a slice of the yield generated by the coins. Binance.US CEO Brian Shroder said the plan is to outdo staking APYs on the likes of Coinbase and Gemini.
Shroder said staking Cosmos blockchain’s ATOM token will generate a yield of 12.2% APY on Binance.US, while something like the smaller market cap Livepeer token could promise up to an 18% yield on LPT.
“We wanted to put out a product that would unquestionably be the best staking platform in the United States by the end of...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...