Institutional staking provider Figment has expanded its integration with Coinbase, allowing the exchange's institutional clients to stake a broader range of proof-of-stake (PoS) assets directly from Coinbase Custody. This move aims to drive adoption beyond Ethereum and other established networks.
Through the partnership, Coinbase Prime customers can now use Figment's staking infrastructure to access additional PoS networks, including Solana (SOL), Sui (SUI), Aptos (APT), Avalanche (AVAX), Cardano (ADA), Cosmos (ATOM), NEAR, and Polkadot (DOT), among others. The collaboration, which began in 2023, has already facilitated more than $2 billion in staked assets through Coinbase Prime.
Figment currently oversees over $18 billion in assets under stake across more than 40 protocols, while Coinbase Prime serves institutional investors with trading, financing, and custody for over 440 digital assets. The integration enables staking directly from the Coinbase Prime platform without removing assets from custody, combining staking management, trading, and financing within a single operational environment.
This expansion coincides with the launch of the first U.S. ETFs with staking, such as the Bitwise Solana Staking ETF (BSOL) and Grayscale's Solana Trust, which are expected to increase institutional demand for yield-generating assets. Additionally, the U.S. Securities and Exchange Commission (SEC) recently determined that certain liquid staking activities do not constitute securities transactions, providing regulatory clarity that supports these developments.
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