TLDR
- Coinbase and Figment have enabled over $2 billion in staked assets since 2024
- The expanded staking covers Solana, Sui, Cardano, Polkadot, and others
- Assets are staked through Figment while remaining in Coinbase Prime custody
- The move follows the launch of new Solana staking ETFs in the United States
Institutions using Coinbase Prime can now stake assets across a wider range of proof-of-stake networks. The expansion comes as Coinbase Prime and Figment strengthen their partnership, moving beyond Ethereum to support networks like Solana, Sui, and Cardano. This update gives institutional clients more ways to stake while keeping custody with Coinbase. The change also arrives as Solana staking ETFs debut in the United States.
Expansion Beyond Ethereum Staking
Coinbase Prime and Figment have expanded their institutional staking integration to include several new proof-of-stake blockchains. This move builds on the initial partnership formed in early 2024, which focused on Ethereum staking.
Now, institutional clients can stake assets from networks such as Solana, Sui, Cardano, NEAR, Avalanche, Polkadot, Cosmos, Celestia, Aptos, Aleo, EigenLayer, and Axelar. The staking process takes place through Figment’s infrastructure, while assets remain securely held in Coinbase Prime’s custody platform.
The update allows institutional clients to manage staking, trading, and financing from one interface. It is aimed at streamlining operations and reducing the need for separate platforms for each service. Since the beginning of their collaboration, Coinbase Prime and Figment have enabled over $2 billion in staked assets.
Support for New Market Developments
The expansion comes as the U.S. prepares for new Solana staking exchange-traded funds (ETFs). Bitwise’s BSOL ETF launched on Tuesday, and Grayscale’s Solana Trust ETF is expected to go live on Wednesday. The timing of this broader staking integration aligns with growing institutional interest in proof-of-stake networks beyond Ethereum.
The partnership between Coinbase Prime and Figment also supported Grayscale in the rollout of the first U.S. Ethereum ETF with staking. This has positioned the two companies to play a larger role in institutional staking as new investment products enter the market.
Lewis Han, Head of Staking Sales at Coinbase, stated, “Expanding our staking integration gives institutions more flexibility to select high-quality staking providers like Figment while safeguarding assets with Coinbase Prime’s institutional-grade controls and secure custody.”
Unified Platform for Institutional Clients
With this integration, Coinbase Prime users do not need to move assets off-platform to stake them. Instead, they can delegate directly to validators through Figment without giving up custody. This setup offers efficiency and reduces operational complexity for institutions with large portfolios.
Figment provides the staking infrastructure, while Coinbase Prime ensures asset custody, compliance, and risk management. This model lets institutions engage in staking while meeting internal security and regulatory requirements.
Figment co-founder and CEO Lorien Gabel said, “Our relationship with Coinbase Prime has been integral here, and we look forward to bringing more companies onchain together.” He added that Figment’s infrastructure focuses on security and risk-adjusted performance.
Broader Network Coverage and Validator Access
As part of the updated partnership, support will continue to grow for more blockchains. The added networks represent a mix of established and emerging proof-of-stake protocols. This gives institutions more choice when selecting networks for staking and diversification.
The integration supports validator diversity, which is key to decentralization and network resilience. Coinbase noted that offering clients access to a range of staking providers encourages broader participation in securing blockchain networks.
The focus remains on giving institutional clients more options while keeping control of their assets. This model appeals to institutions that need both operational efficiency and security in staking strategies.
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