Coinbase Prime Integrates Figment to Enable Institutional Crypto Staking

Coinbase Prime Integrates Figment to Enable Institutional Crypto Staking

Coinbase and Figment expand integration to let Prime clients stake multiple proof-of-stake assets like Solana and Avalanche directly from custody, building on over $2 billion staked since 2023.

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Fact Check
The statement is unequivocally supported by a complete set of high-authority primary and secondary sources. Primary sources include direct announcements from both companies involved: an official blog post from Figment and a press release distributed via Business Wire, both explicitly detailing the expanded staking integration with Coinbase Prime for institutional clients. A blog post from Coinbase itself, while older, confirms the foundational relationship by stating it already used Figment as a validator service. This establishes the partnership's history, making the news of an expansion highly credible. Furthermore, the claim is corroborated by reputable crypto news outlets CoinDesk and Blockworks, which independently reported on the integration. The evidence is entirely consistent, with no contradictions. The sources directly affirm every component of the statement: the parties (Coinbase Prime and Figment), the action (integration), and the purpose (enabling institutional crypto staking).
Summary

According to an official announcement, Coinbase and Figment have expanded their staking integration for Coinbase Prime clients. The update now supports staking for assets including Solana, Avalanche, Sui, Aptos, and more, directly via Coinbase Custody without asset transfers. Since 2023, the partnership has enabled over $2 billion in assets to be staked. Figment currently manages $18 billion across more than 40 protocols, reinforcing its role as a leading institutional staking provider.

Terms & Concepts
  • Staking: The process of locking up cryptocurrency in a blockchain network to support its operations, in return for earning rewards.
  • Custody Tools: Services that securely store and manage digital assets on behalf of clients, often offered by regulated entities.
  • Proof-of-Stake: A blockchain consensus mechanism where validators are chosen to create new blocks based on the amount of cryptocurrency they hold and lock up as stake.