Coinbase Expands Staking Awards for Tezos
Coinbase recently revealed that it had extended its access for staking the cryptocurrency Tezos (XTZ). On November 6, Coinbase introduced staking rewards for every Tezos holders on Coinbase. Now, all eligible U.S. customers can get interest on their XTZ holdings. And they can achieve this by depositing and holding the token on the platform.
Moreover, staking lets customers passively gain income with their crypto by holding funds in a cryptocurrency wallet. And this is to support the operations of the network of the token. In return for locking up their assets in a staking wallet, customers will get more assets from the network.
After that, all eligible Coinbase customers with Tezos on the exchange can collect an average return for Tezos staking. And it will be around 5% per holding period of 35 to 40 days. If a customer completes its initial holding period, they will obtain rewards in their accounts every three days.
Expansion of Coinbase for U.S.-Based Users
Furthermore, Coinbase has been passionately expanding its services for its U.S. customers. And the recent announcement with Tezos can be the latest example. Last October, the exchange started to let U.S.-based holders of USD Coin (USDC) gain 1.25 annual percentage yield.
Coinbase became the most prominent exchange in the United States. It has been active in trying to influence the shape of the digital assets industry. And this also includes its regulatory environment in the country.
Coinbase legal chief Brian Books said a few days ago that the U.S. government needs to step back. And also, they need to let the private sector to make the U.S. digital dollar. Brooks stated that the private sector must build the technology because it can do it more efficiently. On the other hand, the public sector should just focus on setting monetary policy.
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