New Institutional Stablecoin Yield Offering By Crypto.com, Figment And OpenTrade

Crypto.com, Figment and OpenTrade have revealed a partnership focused on a new type of institutional yield offering for staking.

According to the reporting by CoinDesk, it is understood that the partnership aims to bring a more secure platform to institutional investors and enterprises wishing to make use of their crypto balances and holdings, whilst earning % in staking.

Crypto.com and OpenTrade are expected to provide the custody and demand to their clients and open up stablecoin deposits to claim the yield, mentioned to be up to 15% per annum. Figment will provide the staking infrastructure required to make this work, using its expertise in a host of staking solutions and will focus on hedging strategies and perpetual swaps, as well as derisking underlying exposure to the price of Solana's SOL token.

However, this is yet to be fully tested in market downturns and volatility. The top 15 stablecoin pools by TVL pay out on a 30 day average timeframe about 4-8% APY per DefiLlama. Importantly, there are also many others with 20%+ with underlying strategies containing higher risk and have to be vetted properly.

As stablecoins become utilised in everyday payments, regulated staking services offering enterprise-grade security, compliance and risk management protocols will become essential for the types of clients that products such as these are targeted towards.