STAKING NOW AVAILABLE IN THE UK, UPHOLD RELAUNCHES SERVICE TO USERS

Uphold,
the
modern
infrastructure
provider
for
on-chain
payments,
banking
and
investments,
has
announced
that
its
UK
customers
can
now
earn
staking
rewards
on
their
crypto
holdings.
A
UK
Treasury
amendment
to
the
Financial
Services
and
Markets
Act
2000
came
into
force
on
31
January,
2025,
clearing
the
way
for
registered
crypto-asset
service
providers
to
offer
staking
services
to
UK
individuals
and
firms.

Previously,
there
was
a
lack
of
regulatory
clarity
on
offering
staking
to
UK
customers,
which
prevented
users
from
receiving
rewards
for
supporting
essential
blockchain
activities.
However,
following
the
recent
legislative
clarification,
registered
platforms
like
Uphold
can
now
offer
their
customers
the
chance
to
earn
staking
rewards
and
grow
their
digital
assets.

Uphold’s
UK
customers
will
have
the
opportunity
to
earn
competitive
returns
on
staked
cryptocurrencies
such
as
Ethereum,
Solana,
and
NEAR.
Today,
some
supported
tokens
offer
a
return
up
to
14.8%,
depending
on
market
conditions
and
network-specific
factors.
Such
rates
are
ideal
for
crypto
investors
seeking
passive
income
opportunities.

Simon
McLoughlin,
CEO
of
Uphold,
said: “Staking
is
an
inherent
function
of
many
blockchains.
It
creates
a
legitimate
way
for
crypto
holders
to
put
their
assets
to
work
while
supporting
the
validation
process
of
a
blockchain.
With
the
legal
clarification,
we
can
now
offer
this
core
feature
to
our
UK
users
and,
as
you’d
expect
from
Uphold,
we’ll
make
accessing
staking
rewards
easier
than
any
other
platform.”

Staked
crypto
holdings
are
used
by
blockchain
platforms
such
as
Ethereum,
Solana,
and
NEAR
to
validate
transactions,
bolster
security,
and
maintain
the
networks.
Uphold’s
move
to
offer
staking
aligns
with
its
commitment
to
providing
innovative
financial
solutions. 

Proof
of
Stake
(PoS)
blockchain
validation
emerged
as
an
alternative
to
Proof
of
Work,
which
requires
cryptocurrency
miners
to
solve
complex
cryptographic
puzzles, consuming
significant
amounts
of
energy
in
the
process.
In
contrast,
Proof
of
Stake
consumes
significantly
less
energy
by
requiring
blockchain
validators
to
lock
up
crypto
as
collateral,
demonstrating
a
financial
commitment
to
the
network.

Anyone
with
a
minimum
balance
of
a
supported
PoS
token
can
validate
transactions
and
get
rewards
for
doing
so.
With
Uphold
now
reintroducing
this
feature
back
into
the
UK
market,
the
company
aims
to
play
a
pivotal
role
in
the
broader
adoption
of
decentralized
financial
systems
while
providing
tangible
value
to
its
users. 

More
information
on
Uphold’s
staking
offering
can
be
found
here: https://uphold.com/en-gb/products/staking 

About
Uphold 

Uphold,
is
a
financial
technology
company
that
believes
on-chain
services
are
the
future
of
finance.
It
provides
modern
infrastructure
for
on-chain
payments,
banking
and
investments.
Offering
Consumer
Services,
Business
Services
and
Institutional
Trading,
Uphold
makes
pioneering
financial
services
easy
and
trusted
for
millions
of
customers
in
more
than
140
countries. 

Uphold
integrates
with
more
than
30
trading
venues,
including
centralized
and
decentralized
exchanges,
to
deliver
superior
liquidity
and
optimal
execution.
Uphold
never
loans
out
customer
assets
and
is
always
100%
reserved.
The
company
pioneered
radical
transparency
and
uniquely
publishes
its
assets
and
liabilities
every
30
seconds
on
a
public
website
(https://uphold.com/en-us/transparency).

Uphold
is
regulated
in
the
U.S.
by
FinCen
and
State
regulators,
and
is
registered
in
the
UK
and
Canada
with
the
FCA
and
FINTRAC
respectively
and
in
Europe
with
the
Financial
Crime
Investigation
Service
under
the
Ministry
of
the
Interior
of
the
Republic
of
Lithuania.
To
learn
more
about
Uphold’s
products
and
services,
visit
uphold.com. 

Disclaimer: The
information
provided
in
this
press
release
is
not
a
solicitation
for
investment,
nor
is
it
intended
as
investment
advice,
financial
advice,
or
trading
advice.
Cryptocurrency
mining
and
staking
involves
risk.
There
is
potential
for
loss
of
funds.
It
is
strongly
recommended
you
practice
due
diligence,
including
consultation
with
a
professional
financial
advisor,
before
investing
in
or
trading
cryptocurrency
and
securities.