Uphold, an infrastructure provider for on-chain payments, banking and investments, has launched crypto staking for UK customers after new regulations clarified the legal status of staking services.
Following an amendment to the Financial Services and Markets Act, registered crypto platforms can now offer staking rewards, enabling users to earn passive income on assets like Ethereum, Solana and NEAR.
Simon McLoughlin, CEO of Uphold, commented: “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 cryptocurrency holdings on blockchain networks like Ethereum, Solana and NEAR are used to validate transactions, enhance network security and support overall network operations. Proof of Stake (PoS) serves as an alternative to Proof of Work, a validation method that relies on computational power and energy-intensive mining.
PoS instead requires participants to lock up digital assets as collateral, reducing energy consumption while maintaining network integrity.
With recent regulatory changes in the UK, Uphold has reintroduced staking services, enabling customers to earn rewards on eligible PoS cryptocurrencies. The company integrates with over 30 trading venues, including centralised and decentralised exchanges, to manage liquidity and execution.
Uphold states that it fully reserves customer assets and provides real-time updates on its financial position. The platform operates under regulatory oversight in multiple jurisdictions, including the US, UK, Canada, and the EU, with agencies such as FinCEN, the FCA, FINTRAC, and Lithuania’s Financial Crime Investigation Service overseeing its activities.
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