Digital bank Revolut will release its staking product for users residing in the UK and the European Economic Area later this week.
According to crypto news organization AltFi, Revolut will add support for staking Polkadot (DOT), Tezos (XTZ), Cardano (ADA), and Ethereum (ETH) assets. The yield rates for these tokens will vary between 2.99% and 11.65%. However, the rates are not guaranteed and may vary once Revolut rolls out the service.
At present, Revolut offers trading services for 95 cryptocurrencies. The digital bank also supports other investment options, including companies’ shares and commodities such as gold and silver.
Last week, Revolut revealed its plans to create 1,700 jobs, having doubled in size over 2022. The digital bank made the announcement at a time when mass layoffs are rampant in the crypto industry.