Coinbase Custody expands Tezos staking service to all global clients

Custody • November 22, 2019, 6:50AM EST
UPDATED: November 22, 2019, 11:24AM EST
Michael Short/Bloomberg via Getty Images

Coinbase Custody, the cryptocurrency exchange’s storage unit, has expanded its Tezos (XTZ) staking service to all global clients.

Announced Thursday, Coinbase Custody said it is transitioning to an internationally-based staking service, where all of its global clients can have access to the service.

Initially only available for institutional clients, the staking service was recently extended to all U.S. customers of Coinbase Custody and now it has been made available to all investors globally.

Coinbase Custody currently allows staking for only Tezos (XTZ) cryptocurrency, offering rewards of around 5%. It first launched the service in late April. In July, The Block reported that the firm had generated an estimated revenue of $7,580-$8,324 from Tezos rewards during its first two months in operation.

Looking ahead, Coinbase Custody is said to be launching staking service for more cryptocurrencies and blockchain networks that utilize proof-of-stake systems.

AUTHOR

Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

See More
Connect on

WHO WE ARE

The Block is a news provider that strives to be the first and final word on digital assets news, research, and data.

+ Follow us on Google News
Connect with the block on

More by Yogita Khatri