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Cryptocurrencies: 30019
Markets: 116516
Market Cap: $2,621,982,561,711     
24h Vol: $44,162,049,969
Seeking Alpha 2023-02-10 14:56:23

WonderFi's BitBuy to become first registered crypto exchange to offer polkadot staking

WonderFi's BitBuy to become first registered crypto exchange to offer polkadot staking
Decentralized finance-focused WonderFi Technologies ( OTCQB:WONDF ) said Friday its Bitbuy cryptocurrency exchange will add polkadot ( DOT-USD ) to its staking offering starting Feb. 13. The move will mark Bitbuy as Canada's first registered crypto trading platform to offer on-chain staking of DOT. Staking through Bitbuy allows users to lock up their crypto balances on the platform to earn crypto rewards. Bitbuy users can already stake ethereum ( ETH-USD ), solana ( SOL-USD ) and polygon ( MATIC-USD ) via Bitbuy. Some 26% of active Bitbuy users staked their crypto in January. The platform uses crypto custodian BitGo Trust Company to custody all staked assets at a one-to-one ratio. The news comes even as the U.S. Securities and Exchange Commission starts cracking down on crypto exchanges that offer staking services. On Thursday, Kraken was charged by the regulator with failing to register its staking platform .
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