Coinbase Custody adds staking support for Cosmos and Algorand tokens

Coinbase Custody has launched staking services for Cosmos (ATOM) and Algorand (ALGO) tokens.

The move allows Coinbase Custody’s clients to stake the two tokens and earn passive income. The rates of return and fees are currently unknown. The Block has reached out to the firm and will update this story should we hear back.

Coinbase Custody already supports staking for Tezos (XTZ) token and remains the largest operator of a Tezos staking validator, despite charging the highest fees at 25%.

Kraken and Binance currently charge no staking fees.

Several exchanges have recently ventured into staking, including Binance.US and Bitfinex. The former supports all three tokens that Coinbase now supports - Tezos, Cosmos and Algorand, while the latter currently supports Cosmos, EOS, and V.Systems.

Binance, on the other hand, currently supports over 15 coins, including Tezos, Cosmos, Algorand, and EOS.

Correction: This report has been amended to reflect that Kraken does not charge fees for staking.

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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.