Figment Inc. has expanded its partnership with Coinbase Prime to grow institutional staking across multiple blockchains. The move builds on a deal that started in early 2024 with Ethereum staking.
So far, both companies have enabled over $2 billion in staked assets through their joint work. Moreover, the integration allows institutions to stake directly from Coinbase Prime’s custody platform, making it easier and safer for large investors to join Proof-of-Stake networks.
Now, the partnership includes networks such as Solana, Cardano, Sui, Avalanche, Polkadot, Cosmos, NEAR, and others. Figment, which manages over $18 billion in staked assets, will provide its infrastructure to power this expansion.
In addition, Coinbase Prime, known for its trading, financing, and secure custody services, will let clients manage staking alongside their other operations without moving their assets. This helps institutions stake, trade, and finance from one place.
Lewis Han, Head of Staking Sales at Coinbase, said, “Expanding our staking integration gives institutions more flexibility to select high-quality providers like Figment while safeguarding assets with Coinbase Prime’s secure custody.” He added that clients will keep benefiting from a full staking solution, including detailed reporting and reliable infrastructure.
Likewise, Lorien Gabel, Co-founder and CEO of Figment, shared, “From the start, Figment has focused on security and risk-adjusted performance. Our relationship with Coinbase Prime has been key, and we look forward to bringing more companies on-chain together.”
Furthermore, the partnership also supported Grayscale’s launch of the first U.S. Ethereum exchange-traded product that included staking. It marks a growing interest among institutions in earning rewards from staking while keeping assets secure.
Notably, the announcement comes as more companies move into staking. Bitwise Asset Management also shared plans for a Solana Staking ETF on the New York Stock Exchange, showing that interest in staking products is growing quickly.
That said, Coinbase’s latest move fits with its wider institutional strategy. The company just teamed up with Citigroup to test stablecoin payments for global businesses.
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