Ripple announced on the 10th (local time) that it is adding Ethereum (ETH) and Solana (SOL) staking features to its digital asset custody service for institutional clients.
Ripple has partnered with staking infrastructure specialist Figment and cybersecurity firm Securosys to provide an integrated custody solution for institutional clients within regulated environments, including banks and asset management firms. This collaboration will allow institutional investors to participate in Proof-of-Stake (PoS) networks and earn staking rewards while custodially managing their assets, without having to build their own validator infrastructure.
The collaboration with Securosis integrates hardware security module (HSM) technology into Ripple's custody platform. This allows institutional customers to manage their encryption keys directly, both in the cloud and on-premises, while meeting enterprise-grade security requirements.
The industry is noting that this announcement comes amidst the gradual improvement of digital asset regulatory frameworks in various countries. Consequently, there is growing interest in institutional-grade custody and staking solutions that offer security and operational stability.
Market experts believe that a structure that provides custody and staking functions on a single platform could increase institutional investors' access to the digital asset market.
