The NYDFS-chartered qualified custodian for institutional digital assets, and Figment today announced a new institutional staking capability that enables eligible digital asset holders to earn staking rewards on NEAR while assets remain under qualified custody. The first institution to go live on the offering is SVRN, the only NASDAQ-listed treasury company built around the NEAR ecosystem.
NEAR has emerged as one of the leading AI-native blockchain networks, attracting growing institutional interest as capital increasingly positions around AI infrastructure, including the July 2025 launch of a Bitwise NEAR Staking ETP. For a public company building its treasury strategy around NEAR network growth, custody and staking are governed by the same standard that applies to the rest of its balance sheet. SVRN’s NEAR assets are held under qualified custody at Fireblocks Trust Company and earn staking rewards through Figment’s validator infrastructure, with those rewards accruing to SVRN’s NEAR position over time.
“A public company like SVRN must consider many requirements to protect its stakeholders’ interests. Being selected as their trusted, qualified custodian is an important recognition of Fireblocks Trust’s standards,” said Adam Levine, CEO of Fireblocks Financial Services. “Supporting SVRN is a strong example of how Fireblocks Trust works seamlessly with Figment to help generate returns through our in-custody staking offering.”
Fireblocks Trust Company is a limited-purpose trust company chartered by the New York State Department of Financial Services, built on Fireblocks’ defense-in-depth security architecture, the same infrastructure trusted to secure more than $14 trillion in digital asset transactions across 150+ blockchains. Figment supports more than 1,500 institutional clients globally, including asset managers, exchanges, custodians, and foundations, and operates NORS-certified validator infrastructure with OFAC, SOC 2 Type II, and ISO 27001 compliance.
“Institutional capital is ready to deploy into staking but the barrier has been product structure, not conviction”, noted Josh Deems, Head of Revenue, at Figment. “Working with SVRN and Fireblocks Trust Co, we’ve built a pathway for a NEAR-based digital asset treasury company to meet the custody, regulatory clarity, and infrastructure standards that asset allocators apply to every other asset class.”
“As institutional demand to hold and stake NEAR keeps growing, so too will the need to do it under qualified custody,” said Sal Ternullo, CEO of SVRN. “SVRN’s roadmap has us building toward managing 10% of NEAR’s token supply, and staking a position of that scale responsibly is a fundamental requirement of our treasury strategy—one that depends on partners like Fireblocks and Figment who meet the highest institutional standards for security and performance.”
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