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Journalist
Sead Fadilpašić
Journalist
Sead Fadilpašić
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Crypto exchange Uphold has relaunched staking services in the US.
Starting 3 March, Uphold customers in this country can once more earn staking rewards on holdings of nineteen crypto assets.
These include Ethereum, Cardano, Solana, Polkadot, Hedera, and more.
The website promises up to 14.4% return on the staked crypto, though the rewards vary depending on the blockchain, network demand, activity, etc. The exchange distributed reward directly to users’ accounts weekly, in the same crypto they staked.
Uphold gets a commission between 20%-25% depending on the staked asset.
The lack of regulatory clarity and support for the crypto industry, as well as the SEC’s draconian approach to crypto companies, were the primary reasons Uphold stopped the service in this country back in March 2023.
The exchange noted that the massive change in the regulatory space enabled it to finally relaunch this feature. The US has taken a more crypto-friendly stance with the new administration.
Notably, there have been significant changes in the US Securities and Exchange Commission (SEC) leadership. Also, this regulator has dropped a number of crypto-related cases, such as those against Coinbase.
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New Basket: US Crypto Reserve
As for the government, Donald Trump announced that Bitcoin, Ethereum, XRP, Solana, and Cardano would be included in a new US strategic reserve.
Seemingly inspired by this, Uphold has also added a new basket available in the Uphold App, called US Crypto Reserve. Therefore, as its name suggests, this Uphold Basket includes BTC, ETH, XRP, SOL, and ADA.
Meanwhile, in early February 2025, Uphold announced that it relaunched staking services for its UK customers.
The company cited a lack of regulatory clarity as the reason for halting the service. It prevented users from receiving rewards for supporting essential blockchain activities.
However, it added, “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.”
CEO Simon McLoughlin added that staking is a core feature of many blockchains. It provides a legitimate way for crypto holders to put their assets to work and support a blockchain’s validation process.
The FAQ notes that staking services are currently not available in Canada, Japan, Singapore, the EEA, and “other jurisdictions in which Uphold does not generally make its services available.”
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