- The partnership combines Figment’s full staking architecture and Crypto Finance's integrated platform
- Figment's SOC2 safety protocols and certified ETH architecture minimize the risk of slashing
Crypto Finance, a part of Deutsche Börse Group and a FINMA-regulated financial institution partner, has entered into a strategic partnership with Figment, a major staking infrastructure provider, to enhance its protocol staking offering, Bankless Times learned from a press release.
The partnership combines Figment’s full staking architecture and Crypto Finance’s integrated platform to create the optimal place for an institution to stake, manage, buy, and store ether and other digital assets.
Clients can stake ETH, ADA, DOT and SOL
After the partnership, Crypto Finance’s clients can stake Ethereum, Cardano, Polkadot, and Solana. Figment’s SOC2 safety protocols and certified ETH architecture minimize the risk of slashing. Slashing is a penalty mechanism that is implemented in certain blockchain networks, particularly those that use Proof of Stake (PoS) or Delegated Proof of Stake (DPoS) consensus algorithms.
In PoS and DPoS systems, block validators are required to lock up a certain amount of cryptocurrency as collateral, often referred to as their “stake.” This stake serves as a security deposit, ensuring that validators have an incentive to act honestly and follow the rules of the network.
Inflation protection
Institutional clients can benefit from inflation protection because Crypto Finance is FINMA-regulated. The company also has custody of the assets throughout the staking lifecycle, ensuring asset control and security.
Crypto Finance’s top-grade security architecture and Figment’s expertise in optimizing reliability work together to create an effective solution that prioritizes asset security and ensures a dependable and trusted staking ecosystem. Crypto Finance CEO Jan Brzezek commented:
The partnership allows Crypto Finance to enhance its protocol staking offering by leveraging Figment’s leading staking infrastructure. Our institutional clients can now benefit from a more comprehensive, best performing, and most reliable staking partner and can potentially gain access to a broader range of staking networks beyond Ethereum.
Eva Lawrence, Head of EMEA at Figment, added:
We are happy to announce our partnership with Deutsche Börse backed Crypto Finance as their only third party staking provider. Both Figment and Crypto Finance are focused on providing leading solutions in the digital asset space.
