PANews reported on November 17th, citing CoinDesk, that staking infrastructure provider Figment is partnering with OpenTrade and Crypto.com to launch a new yield product for institutional investors seeking stablecoin returns. This product offers an annualized yield of approximately 15% by staking SOL and hedging the token's price volatility using perpetual futures contracts. Investors earn interest simply by depositing stablecoins without directly bearing the price risk of SOL. The staked assets are held in legally segregated accounts by Crypto.com. The product is accessible through Figment's platform and application programming interface (API). Stablecoins can be deposited and withdrawn at any time, and interest begins accruing from the moment of deposit.
Figment, OpenTrade, and Crypto.com have partnered to launch stablecoin products with a 15% yield for institutions.
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