Gemini, the Crypto Exchange established and led by Tyler and Cameron Winklevoss, has expanded staking services in the UK, allowing all customers to earn ether rewards (Et) and Solana Directly by its platform, the company said in a Blog post Tuesday.
The introduction follows the opening of Gemini’s first permanent office in London, which signed the company’s push to strengthen its footprint in the region.
Staking is the process of locking tokens to help secure proof-of-stake blockchain in exchange for rewards. Users can stake any amount of ether or solana, with Gemini that offers up to 6% annual percentage rate (Apr) at Sol and a variable rate for ETH.
Until now, staking on the Gemini UK platform requires a minimum of 32 ether through the staking pro service. The new offer removes that barrier, making staking more accessible to retail users.
Gemini says its staking product is designed to simplify participation in Proof-of-Stake Networks. Rewards are accumulated daily and can be monitored in the app, as the company highlights the institutional precaution setup setup as an added security layer.
The move came amid increased competition with exchanges that offered staking services, with yield rates and ease of accessing which became major differences -different for retail users looking to earn passive income from their crypto holders.
Last week, the exchange said it gained a market in crypto assets (Mica) License from Malta Financial Services Authority (Mfsa)Strengthening its bid to expand throughout the European Union.
Read more: Crypto Exchange Gemini Secures Mica License in Malta, expands a trace of Europe
