Calgary’s Tetra Trust, a leading Canadian provider of crypto custody, has partnered with Figment, a global expert in staking solutions, to provide digital asset staking services to institutional clients in Canada.
Digital asset staking is the process of locking up and holding cryptocurrencies in a wallet to support the operations of a blockchain network and earn rewards in return. Only a select number of Canadian companies are able to provide the service at this time.
Tetra joins that list as the company can now offer clients seamless access to Figment’s staking solutions. Tetra’s keys are securely located in Canada while Figment’s validators operate within the country as well, which ensures full compliance within the Canadian regulatory framework.
“We are thrilled to partner with Figment to bring our clients an outstanding staking solution,” says Didier Lavallée, Tetra’s CEO. “The partnership strengthens Tetra’s position as the preferred choice for digital asset custody services in Canada.”
Tetra has been making significant strides as the country’s only trust company licensed to custody digital assets. Being the first custodian to add staking broadens its product suite available to clients.
The company currently has $1 billion of digital assets under custody and is backed by industry players WonderFi, Coinbase Ventures, and MOGO.