Binance — the 2nd-largest crypto exchange past daily trade volume — has announced support for Tezos (XTZ) staking, co-ordinate to an announcement published on Dec. 3.

Starting on Dec. four, Binance's users will be able to merchandise with XTZ, with XTZ rewards to be calculated daily based on live snapshots and distributed monthly. The distribution is ready to stop before Jan. 20, and later that on the 20th solar day of each post-obit month.

Binance said that users must concord at least 1 XTZ in order to qualify for staking rewards. Tezos is currently trading at $1.30.

Binance's CEO Changpeng Zhao had hinted at the possibility of staking in September, when the exchange initially listed the money with iii trading pairs against Bitcoin (BTC), Tether (USDT) and Binance Money (BNB).

Other major exchanges have added Tezos staking rewards to their available offerings. Coinbase added the feature in early on Nov before transitioning its custody arm, Coinbase Custody, to an internationally based staking service on Nov. 21.

Staking, in general, refers to the practice of holding a cryptocurrency in a wallet to support a blockchain network's operations. In addition to allowing holders to vote on blockchain operations, staking also generates periodic rewards for the holder staking their funds.

Binance'south recent additions

Tezos staking rewards come on the heels of the listing of four Russian ruble trading pairs on Dec. ii. The first trading pairs featuring the ruble include Binance Coin (BNB), Bitcoin (BTC), Ether (ETH) and XRP.

In November, Binance launched back up for the Turkish lira through its local digital wallet partner Papara and also became the beginning exchange to add together the Fiat Gateway developed by stablecoin operator Paxos.

Apart from that, Binance partnered with crypto travel startup TravelByBit to launch a rewards menu that facilitates cryptocurrency payments on major travel website. The card will function like a traditional prepaid card with admission to additional discounts and rewards that users volition be able to load with Bitcoin, Binance USD (BUSD), Binance Money and Ontology (ONT).