Binance, the world’s leading cryptocurrency exchange, recently announced the restoration of access to its full suite of Binance Earn products for qualifying UK Professional Users. This decision comes after the UK financial regulations clarified that staking is exempt from being classified as a collective investment scheme. Additionally, a review of exemptions under the Financial Promotions Order and the Promotion of Collective Investment Scheme Order was conducted to ensure compliance.
This update allows high-net-worth companies, investment professionals, and other exempt investors in the UK to once again access a variety of offerings such as Simple Earn (Flexible and Locked), Liquid Staking (WBETH and BNSOL), Crypto Loans, RWUSD, Super Earn, On-Chain Yields, and Soft Staking.
A spokesperson from Binance expressed excitement about delivering these products to professional investors in the UK, stating that these clients are sophisticated individuals who understand the asset class and seek innovative tools to grow and manage their crypto portfolios.
Staking has been gaining popularity among professional investors as a preferred strategy. Unlike lending, staking involves keeping assets within blockchain protocols, allowing participants to earn competitive yields while contributing to network security. It also provides governance rights, giving investors a say in protocol decisions.
The appeal of staking lies in its alignment with the long-term success of networks, offering yields that can outperform traditional fixed-income products. With global interest rates on the decline, staking yields, sometimes reaching up to 10% annually, are becoming increasingly attractive to investors seeking consistent income without the need for daily trading.
Binance continues to lead the global staking and yield sector, with its Ethereum liquid staking token, WBETH, holding a 20% market share valued at over $9 billion. The circulating supply has seen significant growth, making it the fastest-growing among major providers. BNSOL, Binance’s Solana liquid staking token, boasts over $1 billion in total value locked and serves more than 150,000 Earn users globally.
By reopening Earn products in the UK, Binance reaffirms its commitment to providing professional investors with institutional-grade tools, robust security, and unmatched market reach. This move is more than just reopening access; it’s about empowering UK professional investors to excel in the evolving crypto economy.
In other news, Binance recently joined the T3+ Crime-Fighting Alliance, a global collaboration program dedicated to combating illicit activity on the blockchain. Through this initiative, Binance contributed to its first successful case, aiding in freezing nearly $6 million linked to a pig-butchering scam. T3+ aims to identify and disrupt blockchain-related crimes in real-time, with members like TRON, Tether, and TRM Labs working together to combat financial crimes.
Overall, Binance’s decision to reopen Earn products for UK users following regulatory approval highlights its commitment to providing innovative solutions and fostering a safe and secure environment for professional investors in the cryptocurrency space.