Ripple on Monday announced a partnership with Figment to offer Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) staking through Ripple Custody, allowing banks to offer crypto services without building their own infrastructure.
The Institutional Custody Push
According to the press release, banks can now offer Ethereum and Solana staking rewards to customers without running their own validator computers.
Staking generates around 3-4% annual returns by locking crypto to help secure blockchain networks.
Meanwhile, the Securosys deal provides secure key storage systems that let institutions control their crypto without expensive hardware purchases.
These systems work both in physical facilities and in the cloud.
Building on …