It was a matter of time until Coinbase extended the functionality of Tezos staking on a much larger scale. It now seems that the company has made its first move in this regard.
On Twitter, a message confirming Coinbase Custody will become an international staking service, was provided this week.
Coinbase Custody Goes International
This seems to confirm the support for Tezos staking has been a big success.
Initially, this feature was only available to customers in select regions, which is far from ideal.
While Coinbase Custody is still transitioning, it is expected this move should be completed fairly quickly.
This also seems to confirm the company will support additional currencies with staking capabilities in the very near future.
As one would expect, a lot of cryptocurrency enthusiasts are quite pleased by the news.
This is despite there still being a lot of unknown factors, primarily the time at when this change will go into effect.
Coinbase usually tends to roll out support to new regions in waves.
As far as staking support for Tezos is concerned, no specific regions were announced at this time.
Several enthusiasts supporting other alternative currencies have already inquired about support for their coin.
Again, Coinbase Custody has not indicated which – if any – new currencies would be supported in the future.
Custodial staking for coins can often be a double-edged blade.
It requires users to share control of their holdings with a third party.
That is the opposite of how cryptocurrencies are supposed to be trustless.
For reasons unknown, enthusiasts are too willing to give up this freedom in favor of convenience.