Bitstamp Launches Earn Product for Ethereum and Algorand in US

In a further push into the U.S, Luxembourg-based Bitstamp is set to introduce its Bitstamp Earn product to American investors.

The product is already available to Bitstamp’s non-U.S. customers.

The product is meant to be a turn-key Ethereum (ETH) and Algorand (ALGO) staking solution.

Investors fund their Bistamp accounts and then collect staking rewards. For its part, Bitstamp takes a fee on the yield customers earn.

In another development, Bitstamp and crypto lending
BlockFi, a New Jersey-based crypto rewards platform, and Celsius, its London-based competitor, drew the ire of the SEC earlier this year.

The companies were ordered to stop offering their high-interest accounts to U.S. customers after the regulator alleged they were actually unregistered securities.

BlockFi has since reached a $100 million settlement with the SEC and restructured its product offerings. Meanwhile, Celsius has been redesigning its product to pass muster with regulators.

Although Bitstamp has made sure to steer clear of offering accounts that generate yields from lending, it does still have more work to do with regulators.

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