Bitcoin exchange giant Coinbase is introducing a new space for investing by launching a program that offers institutional investors the option to earn interest on specific cryptocurrencies they hold.
5-8% Interest For Coinbase Custody Customers
The San-Francisco based exchange allows customers to buy and sell several cryptocurrencies. It also operates Coinbase Custody, which provides fund managers and institutional investors cold storage for their digital assets.
Now, through the program named “Staking,” investors holding certain crypto assets in Coinbase Custody can earn interest. The company states,
Staking makes it possible to earn passively against your holdings – all without moving anything from offline storage.
Investors are expected to earn between 5 percent and 8 percent, and the payments will be made in the same crypto asset they hold.
At first, Coinbase will start the Staking program with cryptocurrencies that operate under the proof-of-stake algorithm. Thus the first cryptocurrency of the program is Tezos…