Crypto exchange Gemini, founded by brothers Tyler and Cameron Winklevoss, is expanding its reach. The company just launched new services for its customers in the United Kingdom. Now, users there can earn passive income by “staking” their Ethereum (ETH) and Solana (SOL) through the Gemini platform. This move shows Gemini’s push to grow its product lineup as it eyes a public stock offering in the United States.
The company shared details of this new service in a recent press release. Staking is a way to earn rewards by holding and locking up cryptocurrency. It’s important for blockchain networks that use a “Proof of Stake” system. People who stake their coins help validate transactions and keep the network running. In return, they get more cryptocurrency as a reward.
Gemini aims to make staking easy for everyone, no matter their experience level. A big plus for Gemini’s new service is that there’s no minimum amount required to stake ETH or SOL. This is a game-changer for many, especially for Ethereum, which usually needs at least 32 ETH to stake through other specialized services. Gemini is removing this hurdle, opening the door for more people to participate.
The staking service comes with attractive rewards. Solana stakers can earn up to 6% annual percentage rate (APR), while Ethereum offers a variable rate. These rewards build up daily, and users can easily track their earnings directly within the Gemini app. Security is also a top priority. Gemini states its staking service provides institutional-grade protection for assets. It meets strict security standards like ISO 27001 and SOC 2 Type 2. This means users don’t have to worry about managing their own private keys.
Customers can get started with staking easily. They simply go to the “Explore” tab in the Gemini app, pick ETH or SOL, and choose to stake. The option is also available on the website under the “Stake” tab. Once set up, users can watch their portfolios grow.
This new offering is part of Gemini’s larger growth strategy in the UK. The company recently opened its first permanent office in London. This shows how serious Gemini is about building a stronger presence in the area. Gemini wants to stand out from other platforms by offering services that are easy to use, secure, and offer good rates.
Gemini has also been busy improving its regulatory standing. It recently got a license under the Markets in Crypto Assets (MiCA) framework in Malta. This approval allows Gemini to expand its business across the European Union. These steps are all part of the company’s plan to grow its products and services before its anticipated US initial public offering. Just recently, Gemini also introduced a new Mastercard that focuses on XRP.
By bringing Ethereum and Solana staking to the UK, Gemini is making it simpler for users to access the crypto ecosystem. It meets a growing demand for secure and flexible ways to earn passive income. This move helps Gemini become a stronger player in the staking market as it continues to expand globally.
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