Luno Malaysia has teased the arrival of a new, highly requested feature on its platform, namely staking for Ethereum (ETH staking).
In a post on its Facebook community page, Luno shared a short video that said Luno’s Malaysian investors will soon be able to “earn Ethereum rewards over time while helping to secure the network”. However, no specific dates have been shared as of yet.
To explain, crypto staking is the process of pledging your cryptocurrency asset to help validate transactions on blockchains and projects that use the proof-of-stake consensus protocol. In return, you’ll be rewarded with extra crypto on your holdings – so think of it somewhat like putting your ETH assets into a fixed deposit to earn profit!
Meanwhile, Luno – as a global crypto platform exchange – had actually just rolled out its staking feature in June last year; at present, the service is made available only to customers in South Africa. It allows them to create a staking wallet and earn up to 4% annually on their ETH tokens. When the feature is eventually launched in Malaysia, it is likely that the local market will be Luno’s second market to receive the ETH staking service.
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