eToro Rolls Out Staking-as-a-Service for Cardano and Tron
Crypto brokerage firms are charging into the cryptocurrency staking scene. More and more cryptocurrency companies are beginning to offer staking as a service and experts are thinking this will bring a lot more people to the blockchain world.
Now eToro, the social trading, and multi-asset brokerage company, is offering staking services for Tron and Cardano.
Tron founder Justin Sun released a statement about the new staking as a service offering at eToro.
“As we continue to see diminishing returns from traditional [centralized finance] services, [decentralized finance] is continuing to expand. Services such as eToro’s new staking service takes the complexity and confusion out of the staking process, and makes it accessible to everyone.”
Cryptocurrency users who stake with eToro will receive rewards on a monthly basis with an annual yield of 5.78% with TRX and 7.82% with ADA.
Cardano has been expanding its presence in the digital assets sector. They intend on expanding their custodial staking options to be widely available and have already announced a future partnership with the crypto onboarding giant Coinbase.
eToro CEO and Co-founder Yoni Assia is excited about the prospect of offering great interest rates to potentially millions of customers.
“eToro has a large and active crypto community and our goal is to ensure that we are always offering them the very best products and services,” the CEO said.
He also touched on how new this industry is and how he’s proud to be a pioneer in Cardano staking.
“We are proud to be one of the first regulated platforms to offer a staking service for Cardano and will be further expanding our staking service in the coming months.”
As trusted and reliable companies continue to grow their staking services, many new individuals and businesses will be more comfortable entering the crypto scene. A lot of folks have fears about making mistakes in the blockchain world and having proven secure custody, with a track record of gains will surely add new faces to the party.