Trust Wallet Introduces Ethereum Staking Service

Non-custodial wallet Trust Wallet has launched the ETH Pool Staking service, integrating an Ethereum staking pool based on the Kiln platform.

Introducing ETH Pooled Staking on #TrustWallet & #TrustWalletExtension!

Stake as little as 0.025 ETH and enjoy up to 3.7% APR, powered by Kiln. Simple & secure.

Learn more?https://t.co/f4LBWEByB2 pic.twitter.com/Oj2hU5LGhv

— Trust Wallet (@TrustWallet) January 23, 2024

The option is available in the latest version of the app. It allows users to stake cryptocurrency for passive income without the 32 ETH (~$71,300) minimum threshold required for validators.

Users can stake from 0.025 ETH (~$56) through ETH Pool Staking. The annual rate is stated to be 3.7%.

According to the announcement, the service’s functionality is powered by Kiln.

“Kiln’s expertise in this area ensures that your staking participation will be both beneficial and secure. The platform’s practice and technological capabilities in blockchain solutions significantly contribute to this partnership,” the statement reads.

In September 2023, Coinbase Cloud integrated Kiln to enable staking for users with amounts below the 32 ETH threshold. In January, the platform raised $17 million, and developers reported that the total value locked on it reached $4.2 billion.

Back in November, the Trust Wallet team introduced the Wallet as a Service, allowing corporate clients to launch decentralized applications based on the company’s stack.