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

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.

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