Figment, a major infrastructure provider with $18 billion in assets at stake, is partnering with OpenTrade and Crypto.com to offer a new return product aimed at institutional investors looking for returns on stablecoins.
The product provides around 15% annual return based on past performance by betting Solana and using perpetual futures to offset token price volatility. Investors deposit stablecoins and receive interest without being directly exposed to the price of SOL. The deposited assets are held by Crypto.com in legally segregated accounts.
While staking has typically required exposure to the price of the token being staking, this structure separates the return from the volatility of the asset. For example, an institution with USDC can achieve a return similar to SOL betting – usually around 6.5% to 7.5% – while avoiding the risk of price fluctuations. The extra return comes from managing futures positions that neutralize price movements.
This approach differs from typical DeFi loans, which often involve counterparty risk and less transparency. Figment and OpenTrade say the product allows institutions to earn returns while only interacting with known entities and within a legal framework not normally available in on-chain markets.
Crypto.com’s custody arrangement includes security interest provisions and keeps assets separate from the company’s own balance sheet – a feature often required by institutional compliance standards.
The product is accessible through Figment’s platform and application programming interfaces (APIs). Stablecoins can be deposited and withdrawn at any time, with interest from the time of deposit.
While the structure may not appeal to retail users familiar with decentralized finance, it reflects a shift towards more controlled, predictable return strategies in crypto markets.
