Binance.US – the US-based subsidiary arm of crypto exchange heavyweight Binance – is reportedly planning to roll out staking rewards in February.
Specifically revealed on January 29 by Binance US, staking rewards feature will be incorporated into the system of Algorand (ALGO) and COSMOS (ATOM) at the beginning of January.
Moreover, the firm disclosed that it is looking to incorporate additional Proof-of-Stake (PoS) coins in the future. The firm notified that a measure to simplify the process of entering staking is allowing more people to earn rewards for contributing to the network by promoting network security, reducing validation costs.”
Additionally, Binance.US believed that it is holding the title of the first firm across the US region to introduce staking rewards feature for clients having ATOM and ALGO assets.
“Staking is just one of the many attractive ways we are bringing new people into the digital asset marketplace. We consider this another step towards achieving our goal of financial inclusion for an ever-growing pool of people.” Catherine Coley, head of Binance US, claimed.
The announcement was made not long after a dedicated staking platform was made available by Binance’s principal crypto trading platform, towards the end of September last year.