Overview
- Coinbase Prime expanded its Figment integration beyond Ethereum to support staking for networks including Solana, Polkadot, Avalanche, Cosmos, and NEAR without moving assets out of custody.
- Institutional clients can stake through Figment’s infrastructure directly from Coinbase Custody, consolidating trading, financing, and staking under Coinbase’s controls.
- Since the partnership began in early 2024, more than $2 billion in assets have been staked via the integration, and Figment reports managing over $18 billion across networks.
- Planned additions include Sui, Aleo, Aptos, Axelar, Cardano, Celestia, and EigenLayer, with further networks to be added based on client demand.
- The announcement coincided with the debut of Solana staking ETFs from Bitwise and a Grayscale Solana product, and Coinbase shares slipped about 1.63% intraday ahead of its Q3 earnings call.