As Tezos (XTZ) staking has plainly been getting more pop in recent months, the service will be before long bachelor on another cryptocurrency exchange in the United states. Binance.US, the U.S. arm of the world'due south biggest crypto exchange, Binance, volition launch staking rewards this week.

As officially announced today, Binance.US will launch staking rewards for XTZ on Thursday, April sixteen. The service is expected to exist activated at 09:00 EST, Binance noted.

Outset XTZ rewards to be distributed in May 2022

In the Apr xiii announcement, Binance antiseptic that no action will be needed for Tezos holders to start earning rewards. Additionally, Binance.Usa noted that the commutation already supports major Tezos trading pairs like XTZ/USD and XTZ/BUSD on Binance.US app, website and API.

Similar to already-supported staking coins on Binance.US, the commutation volition be taking hourly snapshots of user's XTZ balances to calculate rewards. While rewards will be calculated daily, distributions will take identify on a monthly ground before the 20th day of each calendar month. As such, XTZ'southward outset distribution will have place in May 2022, Binance.The states explained.

Tezos staking is already bachelor on Binance'southward global exchange. As reported by Cointelegraph, Binance officially launched Tezos staking on its dedicated staking platform on Dec. 4, 2022.

Binance.Usa introduced staking rewards in January 2022, while parent exchange debuted staking service in late 2022

As reported, staking service allows users to deposit their token holdings and earn staking rewards without having to fix their ain nodes. While Binance officially debuted its dedicated staking service in September 2022, its U.Southward. wing introduced the staking product in tardily January 2022.

To date, Binance.Us supports two tokens for staking —  Algorand (ALGO) and Cosmos (ATOM). As announced, Binance.U.s.a. first listed Algorand on Feb. 17, while Atom staking was launched on March x.

Past adding XTZ staking back up, Binance.US joins major U.South. crypto firms like Coinbase and Kraken. Equally reported by Cointelegraph, Coinbase launched Tezos staking in November 2022, while Kraken subsequently rolled out the product in December.