Ripple Expands Custody Services to Ethereum and Solana Staking

Ripple, the largest XRP holder, has announced a partnership with Figment, which would see it expand its custody services to include Ethereum and Solana staking. This development comes as the crypto firm continues to expand its services beyond the XRP ecosystem, with its prime brokerage recently announcing support for Hyperliquid to provide institutions with access to DeFi.

XRP News: Ripple Adds Ethereum and Solana Staking To Custody Services

In a press release, Ripple announced a partnership with Figment to offer staking capabilities to its Custody clients, as it seeks to further expand its institutional product offerings. The firm noted that through this collaboration, banks, custodians, and regulated enterprises will be able to offer staking for proof-of-stake networks, including Ethereum and Solana, without building validator infrastructure or compromising operational controls.

Ripple further noted that by offering staking for the top layer-1 networks as part of its custody workflows, institutions can now expand services while maintaining the “same security, governance, and compliance standards expected of enterprise-grade custody.” Commenting on this move, Aaron Slettehaugh, SVP of Product at Ripple, noted that institutions need cohesive systems to make the most of digital asset capabilities.

“By bringing best-in-class security, compliance, and staking to Ripple Custody customers, we’re removing the friction of managing complex tech stacks and enabling our customers to go live faster and scale with confidence,” he added.

This move comes just a week after Ripple announced that its prime brokerage platform, Ripple Prime, had added support for Hyperliquid, marking the first DeFi venue it was integrating onto its platform. The firm noted that this will enable institutional access to on-chain derivatives liquidity.

Focus Turns To Community Day

Amid this latest development, the XRP community is turning its attention to the ‘XRP Community’ Day, which holds this week. Ripple announced that the event will take place on February 11 and 12 and will include discussions on XRP’s utility and future.

According to the firm, the sessions will cover regulated XRP products, such as ETFs and ETPs. XRP Innovation Spotlights, wrapped XRP, and new features that expand the token’s utility. As CoinGape reported, Flare Network recently introduced modular lending for the altcoin, a move that expands its DeFi utility in relation to lending and borrowing.

Meanwhile, speakers for the Community Day include Ripple’s executives Brad Garlinghouse, Monica Long, and Stuart Alderoty, as well as former Chief Technology Officer (CTO) David Schwartz. Furthermore, there will be ecosystem partners across EMEA, the Americas, and APAC, who will also speak during the event.

Notably, one of the discussions will center around how XRP and stablecoins complement each other. This aligns with the roadmap, which Ripple recently unveiled for institutional DeFi on the XRP Ledger (XRPL), in which the firm noted that the altcoin serves as an auto-bridge for FX and remittance transactions, enabling traders to settle between stablecoins and other tokens.