The Coinbase (COIN) stock: Slides as Coinbase Prime Deepens DeFi Roots with Figment

TLDR

• Coinbase Prime adds Solana and more to its institutional staking suite.
• Expanded Figment deal boosts Coinbase’s DeFi and staking leadership.
• Coinbase widens PoS staking with secure Figment integration.
• Institutional clients gain seamless multi-network staking access.
• Coinbase bets big on DeFi with broad new staking expansion.

Coinbase (NASDAQ: COIN) shares fell by 1.63% intraday, dropping from $361 to $355 ahead of its Q3 2025 earnings call.

Coinbase Global, Inc., COIN

The decline coincides with Coinbase Prime’s announcement of an expanded partnership with institutional staking provider Figment Inc. This move positions Coinbase to further its reach in decentralized finance (DeFi) by supporting a wider range of staking assets.

Coinbase Prime Expands Staking Access Beyond Ethereum

Coinbase Prime has expanded its staking integration with Figment to encompass multiple Proof-of-Stake (PoS) networks beyond Ethereum. This broadening of support follows the successful launch of our staking infrastructure in early 2024, which has already enabled over $2 billion in assets. Clients can now stake networks such as Solana, Sui, Aptos, Avalanche, Cardano, and more.

Through this upgrade, institutional users can stake directly from Coinbase Custody using Figment’s infrastructure without transferring assets off-platform. This streamlined approach reduces complexity while maintaining Coinbase’s high standards of security and compliance. It also reinforces Coinbase’s intent to lead in validator diversity and staking accessibility.

Coinbase Prime now offers institutional clients a unified platform for trading, custody, and staking of digital assets. Figment’s secure and audited infrastructure ensures robust performance for institutional needs. The enhancement helps drive adoption of DeFi protocols through institutional channels.

Solana (SOL): A Key Addition to the New Staking Suite

Solana joins the Coinbase-Figment offering as a high-performance blockchain with growing relevance in institutional staking. Its inclusion follows the launch of the Bitwise Solana Staking ETF, which broadens access to Solana-based yield products. Coinbase Prime clients can now earn SOL staking rewards through integrated controls and seamless staking workflows.

This comes at a time when institutional interest in Solana continues to surge due to its speed and low-cost network architecture. With Solana’s price hovering near $199.73, exposure via secure platforms remains a strategic move. As Figment already supports Solana extensively, operational compatibility remains strong.

The collaboration enhances decentralization and offers more flexibility in selecting staking providers with institutional-grade custody. It also aligns with broader market trends, including the SEC’s recent stance on liquid staking. The added support for Solana underlines Coinbase Prime’s push to diversify staking opportunities.

Ethereum (ETH): Foundation of the Coinbase-Figment Integration

Ethereum laid the foundation for the original Coinbase-Figment integration, enabling institutional ETH staking since early 2024. The partnership notably supported Grayscale’s ETH ETP launch, one of the first U.S.-based staking-enabled crypto products. Over $2 billion has been staked via this collaboration to date.

Recent developments, including Grayscale’s $150 million ETH staking initiative, highlight ETH’s central role in institutional DeFi strategies. With ETH trading near $4,115, demand for compliant and secure staking infrastructure continues to expand. Coinbase Prime and Figment are meeting this demand with turn-key infrastructure and comprehensive reporting tools.

Ethereum remains a core network in the expanded integration, setting a benchmark for security, accessibility, and staking returns. As regulatory clarity increases, platforms like Coinbase Prime are accelerating staking solutions. Figment’s infrastructure supports this momentum while ensuring slashing protection and reward tracking.

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