Coinbase Prime Partners with Figment to Enhance Institutional Staking
- Coinbase Prime has partnered with Figment, managing over $18 billion in staked assets, to expand institutional staking.
- The partnership initially launched in early 2024 with Ethereum staking, facilitating over $2 billion in staked assets.
- New integrations will allow institutional clients to stake tokens on networks like Cardano, Solana, and Sui without leaving Coinbase’s custody.
- The expansion aligns with growing institutional interest in staking, highlighted by Bitwise Asset Management’s launch of the Bitwise Solana Staking ETF (BSOL).
- This move is part of Coinbase’s broader strategy to enhance its institutional offerings and improve regulatory clarity for digital asset management.
The collaboration between Coinbase Prime and Figment aims to simplify the staking process for institutions while ensuring asset security within a unified interface. This comes as demand for staking solutions rises among institutional investors.
With over $2 billion already staked through Ethereum, the new partnership is set to facilitate further growth across multiple proof-of-stake networks like Cardano and Solana. (Source)
