Bitbank Launches Ethereum Staking Service for Japanese Users

Japanese cryptocurrency exchange bitbank has launched an Ethereum staking service, allowing customers to earn rewards on their holdings without a separate lock-up period.

The service is designed to simplify participation for users who want to generate yield from their ETH directly within their existing exchange account. Users can participate by holding ETH in their bitbank account, agreeing to the staking service terms, and enabling reward receipt settings.

The estimated annual yield for customers is 1.78%, with rewards distributed every Monday around 11:00 p.m. UTC. Notably, the absence of a lock-up period means users can retain flexibility over their assets.

Bitbank's move reflects a broader trend among Japanese exchanges to offer staking services as competition intensifies for retail crypto customers. The introduction of staking on bitbank provides an accessible entry point for users who may have been hesitant to use decentralized staking protocols or foreign platforms.