Ethereum to Get Institutional Adoption Boost Because of This New Coinbase Product
Coinbase’s institutional clients can now generate yield by staking Ethereum (ETH)
Coinbase Prime, the prime brokerage offering of the largest U.S. cryptocurrency exchange, has launched Ethereum staking for domestic institutional investors.
The company claims that sophisticated clients can maximize rewards while minimizing risks if they choose its service. This might be an enticing opportunity for institutional investors who want to generate yield by staking.
The offering was launched out of beta last September. Prior to that, Coinbase acquired prime brokerage platform Tagomi back in May 2020.
The second-largest blockchain is currently in the spotlight because of the much-awaited merge upgrade, which is expected to take place in September.
Coinbase Prime also supports Solana, Polkadot, Tezos, and other cryptocurrencies.