Coinbase Custody to Support Secure Cardano Staking This Year

Cardano users will be able to securely stake their ADA tokens from inside Coinbase's cold storage.

AccessTimeIconJul 3, 2020 at 2:06 p.m. UTC
Updated Sep 14, 2021 at 8:59 a.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Cardano holders will soon be able to stake tokens securely at Coinbase Custody.

  • At the Cardano Virtual Summit Friday, chief developer house IOHK announced it had signed an agreement with Coinbase Custody.
  • From Q4 2020, users will be able to stake their ADA tokens from inside Coinbase's cold storage.
  • In proof-of-stake blockchains like Cardano, blocks are verified by token holders (rather than miners as with blockchains like Bitcoin), who receive rewards in return.
  • Cardano's staking protocol, Shelley, is expected to come online later this month with staking rewards beginning in mid-August.
  • Sam McIngvale, Coinbase Custody's head of product, said the regulated product would help projects, like Cardano, find more mainstream acceptance.
  • Tezos inked a similar staking agreement with Coinbase Custody in November 2019.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.