Cosmos Staking Options Are Now Available On Anchorage

The well-known firm that holds cryptocurrencies as a service provided to institutional investors, Anchorage, announced today that it will support ATOM, the crypto that originates from the Cosmos blockchain network. The Cosmos staking options come as a part of the plan for the further expansion of the platform as we reported in the previous cosmos news.

Customers have the opportunity to hold ATOM on Anchorage and because Cosmos is a proof-of-stake network, the ones that hold the coin can see a benefit from staking rewards. Customers also have the opportunity to trade ATOM on the new crypto brokerage service of Anchorage, named, Anchorage Trading. The attracting force of Cosmos is that it aids blockchains to work together with one another, potentially ending one of the worst bottlenecks for technology since Windows and iOS.

 “Anchorage’s support for ATOM custody means Anchorage clients will be able to take part in securing the Cosmos Network through ATOM staking. We’re excited to open the floodgates of user adoption through service providers like Anchorage,” the Head of Community at Cosmos & Tendermint, Chjango Unchained, noted.

Anchorage that is also a member of the Libra Association, which is lead by Facebook, makes the claim that it is the first institutional custodian to allow staking of Cosmos. Binance and Poloniex have offered it for many years, and the U.S. outpost of Binance started to support it last week, and Poloniex, the cryptocurrency exchange offers it too.

The announcement about the Cosmos staking comes during the drama in the Cosmos community. Zaki Manian, the director of Tendermint, the firm that is developing the Cosmos blockchain, yesterday accused the founder and CEO of the project, Jae Kwon, of decreasing responsibility as he steps away from the project.

 “What Jae is doing isn’t decentralization, it’s a transparent attempt to evade responsibility for Jae’s neglect and negligence to the Cosmos project,” Zaki Manian the Tendermint Director noted in a Twitter thread.

Besides the drama, the Anchorage declaration is good news for Cosmos, which does not mean that the ATOM holders would apprehend it automatically. The price of ATOM coins is fallen for 2 percent today, which is traded at around $4.20 per coin. That is approximately half of the highest peak of the crypto at $8.31 per coin, according to data from CoinMarketCap.