Binance US Adds Staking Services for 7 Different Crypto Assets – Binance US is now offering crypto staking services, with seven digital currencies now available with annual percentage yields (APYs) of up to 18 percent, according to the firm. Binance coin, avalanche, solana, livepeer, graph, cosmos, and audius are the proof-of-stake (PoS) cryptocurrencies on which customers can earn yields.
Binance US said on Twitter that the company is now among the several crypto exchanges that provide staking services. “Binance US has officially begun staking, empowering consumers to accomplish more with their money,” according to a statement released on Tuesday by the firm. “Customers can now stake while earning up to 18 percent APY, the highest among US crypto firms,” the exchange added.
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Binance US currently provides staking for seven distinct crypto assets, including BNB, ATOM, AUDIO, SOL, AVAX, LPT, and GRT. BNB now has an annual percentage yield (APY) of roughly 6.4 percent, whereas LPT has an 18 percent staking reward, according to Binance US. When a user on Twitter asked if they can “expect additional options in the future?” Binance US responded, “Yes.” “There will be more.”
Binance US joins competitors such as Crypto.com, Gemini, Kraken, Coinbase, FTX, Tradestation, and other trading platforms in offering staking services to customers. Apart from centralized exchanges, crypto users can stake coins in a non-custodial manner by using decentralized finance (defi) programs and delegating funds to PoS network validators directly.
Binance US is the American partner of Binance, the world’s largest cryptocurrency exchange by trade volume. In 2019, the exchange, which was launched in 2017, stopped serving Americans and announced the formation of the subsidiary Binance US. While Binance is the world’s largest by volume, according to coingecko.com, Binance US is the 15th largest at the time of writing.
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According to people familiar with the matter who spoke with Bloomberg, Binance’s parent company is under investigation by the US Securities and Exchange Commission (SEC). The alleged probe is whether the crypto asset binance coin (BNB) is a non-registered securities.
