Figment Partners with OpenTrade and Crypto.com to Launch Innovative Stablecoin Yield Product

In a groundbreaking collaboration, Figment has joined forces with OpenTrade and Crypto.com to introduce an unprecedented stablecoin yield product designed for institutional investors, promising enhanced security and impressive returns.

New York – Figment, the world’s leading independent staking provider with $18 billion in assets under management, is venturing into the world of stablecoin yield products through a strategic partnership with OpenTrade and backed by the renowned custodial services of Crypto.com. The newly developed offering, known as OpenTrade Stablecoin Staking Yield Powered by Figment, targets an average annual percentage rate (APR) of 15% on stablecoins, based on historical performance and subject to market fluctuations. This innovative product uniquely combines the advantages of staking rewards with risk mitigation strategies against the inherent price volatility of the underlying tokens. With a dedicated validator operated by Figment and OpenTrade’s robust stablecoin yield framework, this product is set to redefine investment norms.

Institutional clients are increasingly seeking higher yields on stablecoins while minimize the risks that might come with lending and decentralized finance (DeFi) options. Figment’s approach emphasizes “safety over liveness,” focusing on delivering superior returns with diminished risks, setting a new standard distinct from the conventional exposures traditionally associated with DeFi platforms.

• The product features a legal framework offering protections to institutions that are not provided in typical DeFi lending scenarios.
• Crypto.com and OpenTrade maintain a premier agreement allowing SOL tokens to be held in a separate account, granting security interests to investors and ensuring these assets are entirely independent of the exchange’s and other entities’ assets.
• Clients benefit from working with recognized counterparties who provide support around the clock.

As users deposit and withdraw stablecoins, the earnings from this product are generated through staking returns from Solana (SOL), facilitated by Figment, alongside strategically managed perpetual SOL futures by OpenTrade. This unique structure historically yields returns significantly exceeding Solana’s typical staking rewards of around 6.5-7.5%. The entire process remains user-friendly, accessible directly through Figment’s platform and APIs. Clients can easily deposit stablecoins, start earning interest immediately, and withdraw any amounts anytime.

“We’re leveraging our proven infrastructure and security expertise to deliver an outstanding yield opportunity for stablecoin investors while ensuring the reliability of institutional-grade services,” stated Andy Cronk, Co-founder and Chief Product Officer of Figment.

“With rising stablecoin adoption and a growing demand for yield solutions among exchanges, wallet providers, and fintech companies, we have partnered closely with Figment to create a stablecoin yield offering that significantly enhances current market choices,” said Jeff Handler, Co-Founder and CCO of OpenTrade. “Stablecoin Staking Yield is the culmination of our collaborative efforts and provides any organization holding stablecoins a new avenue for accessing competitive yields and robust protections that cannot be found solely in real-world assets (RWA) or DeFi investment strategies.”

“Our platform has been specifically designed to cater to the evolving needs of traders today and in the future,” remarked Karl Turner, Director at Crypto.com. “We are proud to support Figment, a forerunner in staking, as they introduce a stablecoin staking offering that our clients are increasingly seeking within the digital asset investment landscape.”