Crypto exchange platform Gemini is rolling out a staking service for blockchain scaling solution Polygon (MATIC).
The exchange supports Polygon staking in the United States (excluding New York), Hong Kong, Singapore, with each new announcement.
Gemini will also soon start staking other prominent altcoins such as Ethereum (ETH), Solana (SOL), Polkadot (DOT) and Audius (AUDIO).
The new New York-based exchange will
Gemini simplifies the staking process and ensures security so that you can confidently stake your assets in just a few steps. We protect staked assets by reimbursing any penalties incurred.
MATIC is trading at $0.840986 at the time of writing. The 16th largest crypto asset by market capitalization is down more than 4% in the last 24 hours.
Gemini is run by the famous Winklevoss twin brothers and started out as early Facebook developers.
The exchange faces multiple lawsuits this summer. In early June, the Commodity Futures Trading Commission (CTFC) announced that it would file charges against the company, alleging that an employee had submitted a false and incomplete statement to the agency.
Less than a week later, the IRA Financial Trust, a retirement account trust company, sued Gemini for failing to put in place adequate safeguards to protect client assets.
The company also dismissed Nearly 10% of employee roster in June, citing crypto market and macroeconomic headwinds
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feature image: Shutterstock/Andrey Suslov/Voar CC