Kraken Launches Ethereum 2.0 Staking

[sneakyboi]

Kraken Launches Ethereum 2.0 Staking

One of the biggest crypto exchange has launched the option to stake on ethereum 2.0 today.

“ETH staking launches Friday, December 4 at approximately 13:30 UTC,” they say with “variable staking rewards of approximately 5% to 17% yearly, based on the network rate.”

Rewards are received weekly and anyone can stake small amounts on the crypto exchange and now chartered bank. In addition next week they will launch the ability to “trade staked ETH for unstaked ETH (market will not be available for clients in the US and Canada).”

Unlike Binance and OKEx which talk about some beth token, Kraken seems to suggest they will launch a ‘simple’ market where people can sell their staked eth. Presumably this market would be Kraken specific because you can’t arbitrage it to other exchanges as there wouldn’t be a way to transfer the beth.

Learn more about the news here.