Coinbase Prime has entered a partnership with Figment Inc. in a bid to bring institutional staking into Solana (SOL), Cardano (ADA), and Sui (SUI), among others.
Coinbase Prime Enters Billion-Dollar Partnership With Figma
In a recent press release, Figment, which oversees more than $18 billion in staked assets, confirmed its collaboration with Coinbase Prime, the institutional arm of the U.S. exchange.
The partnership was launched initially in early 2024 with Ethereum staking. This enabled over $2 billion in staked assets and supported Grayscale’s U.S. ETH exchange-traded product (ETP) that included staking features.
With the latest expansion, Figment’s infrastructure will power institutional staking across PoS networks such as Solana, Cardano, Sui, Avalanche, Polkadot, Cosmos, NEAR, and others.
This integration means the platform’s clients can now delegate tokens for staking without moving them out of the exchange’s custody environment. This essentially simplifies staking, trading, and financing through a single unified interface.
“Expanding our staking integration gives institutions greater flexibility to work with top-tier providers like Figment while ensuring assets remain secure under Coinbase Prime’s institutional-grade controls,” said Lewis Han, Head of Staking Sales at the U.S. exchange
Figment’s CEO also shared his views on the new partnership.
“From the start, we’ve focused on building secure and high-performance infrastructure for trusted financial institutions,” he said. “Our work with Coinbase Prime has been instrumental, and we’re excited to bring even more companies on-chain together.”
The timing of the expansion comes as institutional appetite for staking grows. Bitwise Asset Management recently announced plans to debut the Bitwise Solana Staking ETF (BSOL) on the New York Stock Exchange. The product also launched later today.
Coinbase Builds On Its Institutional Strategy
The partnership with Figment aligns with the U.S. exchange’s broader institutional ambitions. Just yesterday, Citigroup partnered with the exchange to explore stablecoin-based corporate payments. The partnership intends to improve the effectiveness of cross-border settlement and provide blockchain rails-based businesses with round-the-clock payment capabilities.
At the same time, the exchange’s leadership continues to advocate for a clearer U.S. regulatory framework. CEO Brian Armstrong expressed optimism that the crypto market structure bill could pass before year-end. According to Armstrong, lawmakers are “90% aligned” on defining standards for digital asset custody, trading, and stablecoin issuance.
Notably, executives from the exchange joined counterparts from Ripple, Chainlink, Uniswap, Kraken, Galaxy, and Circle in a roundtable with pro-crypto Senate Democrats. The meeting addressed policy delays affecting crypto ETF approvals amid the ongoing government shutdown.