Coinbase announces that it will offer ETH2 staking rewards for UK users

[RSRS]

Coinbase, the crypto exchange operator, said Thursday that it will launch ether staking rewards for its customers in the United Kingdom.

A waiting list for the product has gone live today with a full launch expected soon. Customers will be able to stake any amount and can earn rewards on a portion of holdings rather than their entire balance, should they wish to.

Coinbase began offering staking rewards in 2019 with Tezos and Cosmos.

The move was made possible by ETH2, an upgraded version of the blockchain, and will offer users an interest rate of up to 5% annually on ether holdings.

“We have witnessed a huge rise in customers purchasing ether in recent months and so are delighted to be in a position to offer them staking rewards for this asset,” said Marcus Hughes, general manager for the U.K. and EMEA region.

To stake their ether, customers will need to first convert their holdings to ETH2. These assets are then adding to a so-called ‘staking pool.'

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