eToro has launched crypto staking for its US users,
giving clients the ability to earn monthly rewards on select tokens. The
program reportedly starts with Ethereum (ETH), Cardano (ADA), and Solana (SOL), with plans
to add more assets later.
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Aiming to Simplify Crypto Staking
According to the company, the feature allows customers to stake eligible crypto
while maintaining control of their holdings. It expects to broaden the program to
include additional cryptoassets in the future, building on its US digital asset
offering.
Commenting about the move, Andrew McCormick, the Head
of eToro US, said: “eToro has simplified the staking experience for retail
investors so they can enjoy monthly rewards without added complications.”
“We are excited to launch staking with three
significant assets and look forward to contributing to these networks as an
organization and through our US community.”
eToro is eying expansion across different markets. It
recently secured regulatory approval to provide crypto asset services in Germany under the Markets in Crypto-Assets Regulation. The license allows the
company to operate in compliance with the EU’s new crypto framework,
strengthening its presence in one of Europe’s largest financial markets.
Expansion in Other Regions
As part of the transition, the firm announced that all crypto
asset trading for German clients will now take place directly through eToro EU.
This change is expected to bring to an end the previous arrangement where
trading services were facilitated through DLT Finance, aligning the platform
with its new regulatory structure.
Tangany GmbH reportedly continues to provide custody
services for clients’ assets, while trading activities will be managed by eToro
EU. To proceed with trading, clients now need to accept updated Terms and
Conditions, which will be presented via a notification upon login.
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This article was written by Jared Kirui at www.financemagnates.com.
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