In brief
- Coinbase Custody and Bison Trails have announced an extended integration.
- The integration allows Coinbase Custody users to stake Solana tokens on the Bison Trails platform.
- The integration is designed to improve access to digital assets for users.
New York-based infrastructure company Bison Trails today announced an extended integration with Coinbase Custody, which provides offline asset storage solutions. This will allow Coinbase Custody clients to stake Solana (SOL) tokens on the Bison Trails platform.
This integration means that Coinbase Custody’s clients have a new means of participating in token storage. The practice of staking (holding funds in a wallet for future rewards) becomes easier with this integration as users will now be able to participate directly from the Coinbase Custody interface itself.
“This initiative is a big deal. For Bison Trails, our collaboration with Coinbase Custody furthers our mission of democratizing access to the whole digital asset ecosystem and making it easier for folks to participate,” Joe Lallouz, CEO of Bison Trails told Decrypt.
Coinbase Custody offers clients offline storage solutions that have been used by businesses on the Coinbase exchange since 2012. The storage service allows users to store a majority of crypto assets in offline, geographically diverse sets of vaults, and is protected by an insurance policy provided by industry leading insurers, including Lloyd’s of London. It is regulated by the New York State Department of Financial Services.
Bison Trails is an “infrastructure as a service” company, which means it offer other entities the opportunity to participate in blockchain technology. The platform it provide allows for other companies to engage in blockchain networks without having to develop any of the technology necessary to engage in these chains themselves.
The Solana network, home to the Solana tokens, currently supports 50,000 transactions per second. The focus for the single-chain, proof-of-stake protocol is on delivering scalability without diverting attention from decentralization or security.
“We are excited to offer our clients an effortless way to stake on the new networks they care about the most,” said Sam McIngvale, CEO of Coinbase Custody.
This integration follows a recent, additional collaboration that allows users to stake Polkadot tokens on Bison Trail’s public validators.