BitGo customers can earn 13% per annum on staking
Crypto News

BitGo customers can earn 13% per annum on staking

  • At the initial stage, staking rewards for Dash and Algorand are available.
  • More coins will be added to the platform in the future.

A custodian solutions provider BitGo offered customers the opportunity to receive passive income on cryptocurrencies Dash (DASH) and Algorand (ALGO).

The coin holders that store their assets with BitGo Trust will receive staking rewards on Dash and Algorand deposits. The rate of return will vary by coin, from 7 percent to up to 13 percent for Algorand. More coins to be added in the future.

“In order to be a great custodian, we need to provide our clients with the ability to use their assets in custody. Staking provides our clients with returns on their investments without ever moving their assets out of custody,” said Ben Chan, CTO, BitGo.

In addition, the company acquired a startup Hedge, involved in building staking infrastructure. BitGo is confident that the new acquisition will provide an opportunity to automate many operations and expand the functionality of the service.

“Our acquisition of Hedge builds on the blockchain and staking expertise within our engineering platform to deliver an automated, end-to-end staking service.”

Read also: A crypto custody provider BitGo supports cryptocurrency staking

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