Digital bank Revolut offers crypto staking for UK and EEA clients

DOT, XTZ, ADA, and ETH are purportedly available for staking, with rewards ranging from 2.99% to 11.65%.

Revolut, a UK-based neo-banking platform with 25 million consumers worldwide, has launched cryptocurrency staking for its U.K. and European Economic Area (EEA) clients.

According to a report by the London-based news agency AltFi, the staking function is anticipated to go live this week, enabling users to earn interest on their crypto assets during its “soft testing” period.

Currently, Polkadot’s DOT supports staking, with payouts ranging between 2.99% and 11.65%. These yields are not guaranteed.

Revolut has been integrating cryptocurrency into its services over the last several years. It started selling crypto trading services in 2017, and these services have since been a substantial source of income for the firm, especially with the launch of items such as crypto cashback for premium customers. Now, Revolut allows trading for approximately 100 distinct crypto assets and enables consumers to make purchases with their crypto assets.

In an attempt to educate its consumers about crypto and blockchain, Revolut has been delivering free “Learn & Earn” classes on the fundamentals of these subjects, and rewarding participants with free coins.

Cointelegraph reported in September 2022 that the Financial Conduct Authority of the United Kingdom permitted Revolut to sell cryptocurrency services and products.

Also Read: Dogecoin Whale Resurfaces After 9 Years In Mysterious Situation

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