Coinbase Prime Expands Staking Services to Multiple PoS Networks

Coinbase Prime and Figment have once again joined forces to help institutional investors stake on more proof of stake (PoS) networks. As announced, clients can now stake a wider range of digital assets directly through the Coinbase Prime platform using Figment’s trusted infrastructure.

The new setup allows institutions to manage staking, trading, and financing all in one secure and convenient place.

Coinbase Prime, Figment Expand Staking Beyond Ethereum

The new integration now supports several popular PoS blockchains. These include Solana blockchain , Sui, Aleo, Aptos, Avalanche, Axelar, Cardano, Celestia, Cosmos, EigenLayer, NEAR, and Polkadot networks. It was revealed that more networks will be added soon as demand grows.

Coinbase Prime’s institutional clients can now stake assets across more proof-of-stake networks using Figment’s infrastructure. This can be done smoothly within the Coinbase Prime platform.

The expanded partnership offers institutional investors more flexibility in choosing where and how to stake their assets. Together, Coinbase Prime and Figment make it possible for investors to earn rewards from staking while maintaining strict control and oversight of their digital assets.

Building on Past Partnerships 

The collaboration between Coinbase Prime and Figment started in early 2024. Back then, the two companies worked together to offer Ethereum staking to institutional clients. Since then, they have helped institutions stake more than $2 billion worth of assets.

Their partnership has also supported major developments in the market. This includes helping Grayscale launch its first U.S. Ethereum ETF that lets users stake. Now, the companies are going further by adding support for many other growing blockchain networks, not just Ethereum.

Institutional Demand for Staking Grows

Institutional interest in staking services has been growing. Popular asset managers like Bitwise recently launched the Solana Staking ETF (BSOL). This fund now manages over $100 million. At the same time, Grayscale has announced plans to launch a Solana Trust ETF that also lets users stake.

Crypto staking means locking up digital assets on a blockchain. In return, users earn rewards, similar to getting interest from a bank account. Crypto exchanges, like Coinbase, are also joining this trend.

Earlier this month, Coinbase started offering crypto staking services to its customers in New York. These moves show that more people want ways to earn rewards from their digital assets. To meet this demand, platforms like Coinbase Prime and Figment are improving their staking services to many blockchain services.