Figment, OpenTrade and Crypto.com Launch 15% Stablecoin Yield Product for Institutions
Figment, OpenTrade, and Crypto.com have jointly launched a stablecoin yield product targeted at institutional investors seeking around 15% annual returns. The yield is achieved by staking SOL (Solana) tokens combined with the use of perpetual futures contracts to neutralize price exposure. This strategy allows investors to earn interest without direct exposure to SOL price volatility.
Assets deposited by investors, typically stablecoins such as USDC, are held in segregated custody by Crypto.com with security interest provisions, separated from Crypto.com's balance sheet, to ensure compliance and reduce counterparty risk. Investors can deposit and withdraw stablecoins anytime via Figment's platform and APIs, with interest accruing from the time of deposit.
This product is designed as a compliant and transparent alternative to DeFi lending, specifically targeting institutional and compliance-minded clients rather than retail users. An example given highlights USDC yields similar to SOL staking levels of roughly 6.5% to 7.5%, demonstrating potential returns without exposure to SOL price fluctuations.
