Gemini, a crypto exchange founded and led by Tyler and Cameron Winclevos, expanded its staking service to the UK, allowing all customers to earn rewards in Ether (ETH) and Solana Sol$191.04 Directly through the platform, the company said in a blog post Tuesday.
The introduction follows the opening of Gemini’s first permanent office in London, and shows the company’s driving force to strengthen its footprint in the region.
Staking is a process that helps you lock tokens and secure a blockchain of proofs in exchange for rewards. Users can bet any amount of ether or solana, and Gemini offers an annual rate of up to 6% (APR) in SOL, and a variability rate of ETH.
Until now, staking on Gemini’s UK platform required a minimum of 32 ethers through its staking pro service. New products remove that barrier and make it more accessible to retail users.
Gemini says its staking products are designed to simplify participation in proven stake networks. Rewards occur daily and can be tracked through the app, but the company emphasizes institution-grade custody setups as an additional layer of security.
This move occurs amid increasing competition between exchanges offering staking services, with yields and ease of access becoming an important differentiator for retail users looking to earn passive income from crypto-holdings.
Last week, the exchange said it had secured a market for Crypto Assets (MICA) licensing from the Malta Financial Services Authority (MFSA) and strengthened its bids to expand across the European Union.
read more: Crypto ExchangeGemini secures MICA licenses in Malta and expands its European footprint
