Figment and OpenTrade Launch Solana-Based Stablecoin Product

• Figment and OpenTrade launched a Solana-based stablecoin yield product targeting 15% APR.
• The yield comes from Solana (SOL) staking rewards combined with a perpetual futures hedge.
• Crypto.com provides custody for the underlying stablecoin assets.
• The product reportedly outperforms Solana’s usual 6.5%–7.5% staking yield.
• Institutions deposit and withdraw stablecoins directly through Figment’s platform.
• Launch aligns with rising institutional interest in regulated Solana staking.
• Several Solana staking ETFs are growing rapidly, including Bitwise and Grayscale offerings.
• SOL price remains under pressure, down 19% in two weeks.

Figment and OpenTrade have teamed up to introduce OpenTrade Stablecoin Staking Yield, a new Solana-based stablecoin product designed to deliver a targeted 15% annual percentage rate (APR). The product aims to give institutions secure and regulated access to the high yields available on Solana’s network.

How the Product Works

The strategy behind the product is built around two core components:

1. Solana Staking Rewards — SOL offers attractive staking yields in the 6.5%–7.5% range.
2. Perpetual Futures Hedge — OpenTrade uses a futures hedge to offset downside risks while boosting net yield.

Institutions simply deposit and withdraw stablecoins through Figment’s platform. The yield generation is handled inside an OpenTrade-managed vault, while Crypto.com serves as the custodian, managing the underlying assets.

Figment stated that this approach has historically delivered returns above the standard SOL staking rate, making the product appealing to institutions seeking yield outside traditional DeFi or real-world asset (RWA) products.

Jeff Handler, co-founder and chief commercial officer of OpenTrade, explained that this model creates a new type of yield opportunity — one that institutions cannot access through typical RWA or DeFi methods.

Institutional Interest in Solana Staking Rises

Figment currently manages $18 billion in assets under stake, and OpenTrade is known for its on-chain and RWA-backed lending services. Their collaboration comes at a time when interest in regulated Solana staking is at an all-time high.

After the passing of the US GENIUS Act, stablecoin issuers gained a clearer regulatory framework but were prohibited from paying interest to tokenholders. As a result, institutions are turning to staking strategies instead.

This has helped spark demand for Solana staking ETFs, which allow institutions to gain exposure to staking rewards in a regulated manner.

Solana Staking ETFs Gaining Momentum

Several major Solana staking ETFs launched this year, quickly attracting significant capital:

• REX-Osprey SSK Fund — launched in July and surpassed $100M AUM within weeks.
• Bitwise Solana ETF — debuted with over $220M in assets.
• Grayscale Solana Trust (GSOL) — listed on NYSE Arca shortly after.

These ETFs stake the SOL they hold to secure the network and pass on most of the rewards to shareholders:

• Grayscale returns ~77% of staking rewards.
• Bitwise returns ~72% to investors.

SOL Price Under Pressure Despite Demand

Even as demand for regulated Solana staking grows, the price of SOL has been trending downward.
At the time of writing, SOL trades around $135, down 19% in the last two weeks, according to CoinGecko data.

This market dip has not slowed institutional interest in staking its rewards.

Final Thought

Figment and OpenTrade’s new Solana-based stablecoin yield product highlights a clear shift in institutional demand. As stablecoin issuers face restrictions on yield offerings, staking-based strategies are becoming the preferred path. With a targeted 15% APR, this product positions Solana as one of the most attractive networks for institutional yield generation in 2025 — even during market volatility.