Cryptocurrency exchange Binance will launch a service for staking Solana (SOL) coins by the end of September 2024. This was reported by The Block citing a company statement.
The statement said the new tool, called BNSOL, will allow users to stake SOL coins and receive a portion of the fees paid by the network. It will also provide customers with a liquid token that can be used while the underlying assets are locked.
Head of Regional Markets at Binance Vishal Sacheendran said:
Note that on August 29, 2024, Binance posted a message on its X (formerly Twitter) with the inscription: BNSOL.
BNSOL
— Binance (@binance) August 29, 2024
At the time of writing, Solana is trading near the $130 mark.
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Source: Cryptocurrency
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