Coinbase has announced two new services for its institutional clients. This week, Coinbase revealed a staking service for Tezos holders, which will allow investors to generate passive income. Coinbase also announced a MakerDAO voting service that will allow investors to have a say in the project’s governance.
Tezos Staking Begins
Coinbase Custody’s first new service allows its clients to stake Tezos tokens (XTZ) and earn rewards. Coinbase says that it chose to initially support Tezos due to the blockchain’s DPOS architecture. Coinbase adds that Tezos allows investors’ funds to be kept in cold storage, even when those funds are staked:
“The Tezos design was thoughtful from the start about protecting delegated funds. The result is that we can keep client assets in segregated cold storage, where they’re never subject to more risk than non-DPOS assets (e.g., BTC).”
When Coinbase Custody was launched last summer, it was primarily a service that allowed investors to securely store cryptocurrency. This new service is…