The post Figment and OpenTrade launch new stablecoin yield product appeared on BitcoinEthereumNews.com. Key Takeaways Figment and OpenTrade launched a stablecoin yield product offering 15% APR on stablecoins, with Crypto.com serving as custodian. Yield is generated by staking Solana (SOL) and using perpetual SOL futures, delivering returns more than double traditional SOL staking. A new stablecoin yield product from Figment and OpenTrade seeks to deliver 15% APR by combining staking rewards with hedging strategies. According to a Monday announcement, leading staking provider Figment has teamed up with OpenTrade, a lending and yield infrastructure solution backed by a16z Crypto and Circle, to roll out OpenTrade Stablecoin Staking Yield Powered by Figment, with Crypto.com serving as custodian. The product, targeting an average 15% APR by combining Solana staking returns with hedged futures positions, offers institutional custody, flexible deposits and withdrawals, and enhanced protection for investor assets, as noted by the companies. “We’re bringing our battle-tested infrastructure and security mindset to stablecoins to offer customers exceptional yield opportunities with the peace of mind of an institutional service,” said Andy Cronk, co-founder of Figment. The product is powered by a dedicated Figment-run validator combined with OpenTrade’s institution-grade stablecoin yield infrastructure. Crypto.com and OpenTrade have an agreement that enables SOL tokens to be custodied in a segregated account, over which investors are granted a security interest. Assets are segregated from the assets of the exchange and other entities. Discussing the launch, Jeff Handler, OpenTrade’s co-founder, said that rising stablecoin adoption and demand for yield solutions across exchanges, wallets, and fintechs have driven the company to collaborate with Figment on a new stablecoin yield product. “Through our partnership, any company with stablecoins can access a new category of yield options which offer a combination of market leading returns and strong protections, which together cannot be accessed across either solely RWA or DeFi investment strategies,” Handler noted. “We have purpose… The post Figment and OpenTrade launch new stablecoin yield product appeared on BitcoinEthereumNews.com. Key Takeaways Figment and OpenTrade launched a stablecoin yield product offering 15% APR on stablecoins, with Crypto.com serving as custodian. Yield is generated by staking Solana (SOL) and using perpetual SOL futures, delivering returns more than double traditional SOL staking. A new stablecoin yield product from Figment and OpenTrade seeks to deliver 15% APR by combining staking rewards with hedging strategies. According to a Monday announcement, leading staking provider Figment has teamed up with OpenTrade, a lending and yield infrastructure solution backed by a16z Crypto and Circle, to roll out OpenTrade Stablecoin Staking Yield Powered by Figment, with Crypto.com serving as custodian. The product, targeting an average 15% APR by combining Solana staking returns with hedged futures positions, offers institutional custody, flexible deposits and withdrawals, and enhanced protection for investor assets, as noted by the companies. “We’re bringing our battle-tested infrastructure and security mindset to stablecoins to offer customers exceptional yield opportunities with the peace of mind of an institutional service,” said Andy Cronk, co-founder of Figment. The product is powered by a dedicated Figment-run validator combined with OpenTrade’s institution-grade stablecoin yield infrastructure. Crypto.com and OpenTrade have an agreement that enables SOL tokens to be custodied in a segregated account, over which investors are granted a security interest. Assets are segregated from the assets of the exchange and other entities. Discussing the launch, Jeff Handler, OpenTrade’s co-founder, said that rising stablecoin adoption and demand for yield solutions across exchanges, wallets, and fintechs have driven the company to collaborate with Figment on a new stablecoin yield product. “Through our partnership, any company with stablecoins can access a new category of yield options which offer a combination of market leading returns and strong protections, which together cannot be accessed across either solely RWA or DeFi investment strategies,” Handler noted. “We have purpose…

Figment and OpenTrade launch new stablecoin yield product

Key Takeaways

  • Figment and OpenTrade launched a stablecoin yield product offering 15% APR on stablecoins, with Crypto.com serving as custodian.
  • Yield is generated by staking Solana (SOL) and using perpetual SOL futures, delivering returns more than double traditional SOL staking.

A new stablecoin yield product from Figment and OpenTrade seeks to deliver 15% APR by combining staking rewards with hedging strategies.

According to a Monday announcement, leading staking provider Figment has teamed up with OpenTrade, a lending and yield infrastructure solution backed by a16z Crypto and Circle, to roll out OpenTrade Stablecoin Staking Yield Powered by Figment, with Crypto.com serving as custodian.

The product, targeting an average 15% APR by combining Solana staking returns with hedged futures positions, offers institutional custody, flexible deposits and withdrawals, and enhanced protection for investor assets, as noted by the companies.

The product is powered by a dedicated Figment-run validator combined with OpenTrade’s institution-grade stablecoin yield infrastructure.

Crypto.com and OpenTrade have an agreement that enables SOL tokens to be custodied in a segregated account, over which investors are granted a security interest. Assets are segregated from the assets of the exchange and other entities.

Discussing the launch, Jeff Handler, OpenTrade’s co-founder, said that rising stablecoin adoption and demand for yield solutions across exchanges, wallets, and fintechs have driven the company to collaborate with Figment on a new stablecoin yield product.

Customers can deposit stablecoins via Figment’s app into the OpenTrade vault to begin earning interest immediately and withdraw any stablecoin amount at any time.

Source: https://cryptobriefing.com/stablecoin-yield-product-figment-opentrade/

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