Taurus and Figment Team To Enable Institutional Staking On A Global Scale

Staking service Figment and crypto custody firm Taurus are collaborating to bring crypto staking into major TradFi banks. The partnership will enable banks to easily stake Solana, Ethereum, and other major cryptocurrencies.

With the partnership, banks that hold Solana, Ethereum, and other proof-of-stake tokens on the Taurus custody can earn staking rewards on their crypto assets. Additionally, the holders can earn these rewards within the PROTECT platform of Taurus. They will also have complete control and ownership of the funds in the custody of the firm.

Regional Managing Director in EMEA for Figment, Eva Lawrence, commented on the development. She stated that the partnership will take advantage of both firms’ expertise and experience working with top regulated banks and large institutions.

This will come in handy to provide a robust and seamless custody asset solution for users. Eva added that the partnership will offer stability and more features that will meet the needs of its customer base.

The Collaboration Will Enable A Seamless Staking For Banks

The staking services of Figment will feed directly from the Taurius PROTECT custody service. It will enable banks to easily stake their assets without carrying out any complex blockchain operation. Also, Taurus says that the staked assets are fully protected as they will remain secured in their custody.

Chief Marketing Officer at Taurus, Victor Busson, also commented on the partnership. He stated that the partnership between Figment and Taurus will bring together two major firms that share a common and deep institutional DNA. It represents both companies’ commitment to offer regulated financial institutions scalable, compliant, and secure access to staking services.

Upcoming Solana ETFs Will Likely Have Staking Rewards

For clients and institutional investors that invest in altcoins like Ethereum and Solana, staking income is vital for making their investments worthwhile. Solana holders see this option as a highly attractive staking method due to their high staking rewards.

For example, about 64% of all Solana tokens are currently staked, as its staking market capitalization has surpassed that of Ethereum. Additionally, some forthcoming Solana ETFs are likely going to have some staking rewards, which gives holders the courage and incentive to stake their tokens.

Figment is a leading provider of staking infrastructure. The staking market performs like the broader crypto trading and investment market. As the market enters an upward trajectory, the staking market also sees significant interest, especially for long-term crypto holders.