<p>Binance <a href="https://www.binance.com/en/support/articles/360034121332">unveiled</a> its new cryptocurrency staking platform on Thursday. The exchange will initially support eight assets: NEO, ONT, VET, XLM, KMD, ALGO, QTUM, and STRAT.</p> <p>According to Binance, the new platform will enable Binance users "to grow their funds by receiving monthly rewards &amp; distributions simply by depositing and holding funds on Binance." </p> <p>"Users will earn staking rewards without needing to set up any nodes, worry about minimum staking amounts, time lengths, or any other technical requirements," Binance's announcement reads.</p> <p>Binance is not the first cryptocurrency exchange to get into the staking game. In late March, Coinbase's custodial service, Coinbase Custody, <a href="https://blog.coinbase.com/coinbase-custody-launches-staking-support-for-tezos-makerdao-governance-to-follow-68f7bc51bc53">announced</a> it was supporting staking for Tezos.</p>