Ripple Expands Custody Services with Ethereum and Solana Staking
- Ripple has launched staking for Ethereum and Solana in its custody business, enhancing asset servicing options for institutional clients.
- This capability is facilitated through a partnership with Figment, allowing clients to stake without needing to set up validator infrastructure.
- XRP does not currently offer protocol-level staking rewards, which may affect its attractiveness compared to Ethereum and Solana for institutional investors.
- Ripple’s custody expansion comes as XRP-linked investment products see stronger weekly inflows than those linked to Ethereum and Solana.
- Figment’s non-custodial architecture emphasizes operational assurance and compliance, key priorities for institutional buyers.
The introduction of staking services for Ethereum and Solana reflects the growing demand from institutions for comprehensive custody solutions that include yield-generating features. This move positions Ripple favorably in the competitive landscape of institutional crypto services.
Despite XRP’s lack of native staking rewards, it continues to attract strong inflows, indicating distinct market dynamics between asset demand and service offerings. (Source)
