The Cameron and Tyler Winklevoss-owned cryptocurrency exchange Gemini has announced the expansion of its Ethereum staking service, Gemini Staking Pro, in the United Kingdom. The service allows institutions and high-net-worth individuals to become Ethereum validators by locking up at least 32 Ether (ETH), worth around $60,000 at the time of writing. Gemini Staking Pro is currently the only staking product available in the UK, and the service is live in more than 30 other countries. However, Gemini’s staking services are not regulated by the UK Financial Conduct Authority. The platform will reimburse stakers for certain penalties imposed in connection with staking. Gemini also promised to help stakers avoid network-imposed penalties and losing staked tokens.
Summary:
– Gemini expands its Ethereum staking service, Gemini Staking Pro, in the United Kingdom.
– The service allows institutions and high-net-worth individuals to become Ethereum validators by locking up at least 32 Ether (ETH), worth around $60,000 at the time of writing.
– Gemini Staking Pro is currently the only staking product available in the UK.
– The platform will reimburse stakers for certain penalties imposed in connection with staking.
– Gemini also promised to help stakers avoid network-imposed penalties and losing staked tokens.
– Gemini’s staking services are not regulated by the UK Financial Conduct Authority.