On Coinbase Prime is currently providing institutional domestic clients in the United States with Ethereum staking. The worldwide cryptocurrency exchange made the statement in one of its most recent blog post.
Coinbase has recently made headlines, though perhaps not for the best reasons. The former product manager of the cryptocurrency exchange was arrested only a few days ago.
Investors in COIN then received some depressing news when it was revealed that Cathie Wood of ARK Invest had sold 1.41 million shares in Coinbase. ARK was reportedly one of the largest COIN holders as of the end of June with 8.95 million shares.
The exchange finally provides some good news to its clients with its new product.
Other tokens in addition to Ethereum staking
We are all aware that Coinbase offers its consumers the ability to trade digital assets. This is accomplished by the platform’s several branches, including Coinbase, Pro, and Prime. While the standard exchange is the place to go for users looking for a clear and uncomplicated trading experience, Coinbase Pro offers a far more skilled platform for seasoned traders.
Prime differs from the other two in that it focuses mostly on institutions. The platform offers staking services to institutions, and now it includes Ethereum in its ever-expanding array of staking options.
Institutions can experience end-to-end staking with Coinbase Prime. Customers may access the ETH asset page on their Coinbase Prime account to create a wallet, choose their stake amount, and start staking.
Institutions have access to Solana, Cosmos, Polkadot, Tezos, Celo, and other cryptocurrencies through Coinbase Prime in addition to Ethereum. Institutional clients may quickly create a wallet, choose the amount they desire to stake, and start staking Ethereum or any of the supported assets to park their funds.
According to the information in the blog article, the funds will be very secure. To maintain optimum security, the withdrawal keys are also kept in their cold storage custody vault.