- Staking is also now available to the exchange’s customers outside the US
- But not in the CIS
- This is how Coinbase confirmed the previously stated thesis that it has no plans to shut down staking
- Even with pressure from the SEC
The cryptocurrency exchange Coinbase announced this morning, June 16 that USDC staking will be available to customers of the platform outside of the US. Moreover, the company raised the rate on this position from 2% to 4%.
“Increase your savings with a functional and fully secure USDC. Coinbase Global customers now have a reward available for stackablecoin,” the firm said in a statement.
But the company also mentioned that the final rate can vary. You can view the exact local market rate in your user account.
You only need to have at least 1 USDC in your Coinbase account to use the service.. Details about steaking, as well as a list of countries, can be found here.</nbsp;
It is noteworthy that the list does not include Ukraine, Belarus, Kazakhstan, or other CIS countries.. However, for platform customers from other jurisdictions, the innovation is extremely useful.
In the U.S., for example, the FDIC (Federal Deposit Insurance Corporation) offers a rate of 0.4% for savings accounts. Some local banks offer better terms, but they do not work with cryptocurrency.
We note that Coinbase received a lawsuit from the SEC (Securities and Exchange Commission). The exchange is also in the crosshairs of regulators in 11 states because of its passive income program.</nbsp;
But the exchange has already said it has no plans to shut down steaking.</nbsp