Figment acquires staking data firm Rated Labs

Blockchain infrastructure firm Figment has acquired analytics firm Rated Labs to bolster its institutional staking data offerings. The deal represents Figment's first acquisition as part of a previously announced strategy to invest up to $200 million in crypto startups.

Rated is particularly known for its Ethereum and Solana validator performance data, according to CoinDesk, which first reported news of the deal. Terms of the deal were undisclosed.

Figment helps institutions earn staking rewards, and currently manages around $15 billion in staked assets across 30-odd proof-of-stake networks. It has approximately 700 customers.

Earlier this year, Figment partnered with Taurus SA, a Deutsche Bank-backed crypto management platform, to improve staking compliance and security practices for banking clients.

Figment has received backing totaling $165 million to date from some of the most established TradFi firms, including Thoma Bravo, Morgan Stanley, and Franklin Templeton.