Fireblocks Trust Company and Figment have launched an institutional NEAR staking capability, with SVRN as the first live client.
The offering enables eligible digital asset holders to earn staking rewards on NEAR while assets remain under qualified custody at Fireblocks Trust Company, a limited purpose trust company chartered by the New York State Department of Financial Services (NYDFS).
Under the structure, SVRN's NEAR assets are held at Fireblocks Trust Company while staking rewards are generated through Figment's validator infrastructure, accruing directly to SVRN's NEAR position over time. The arrangement is designed to allow a publicly listed company to generate returns on its digital asset treasury while maintaining the same custody standards that apply to the rest of its balance sheet.
Compliance and operational credentials
Fireblocks Trust Company operates on the same security architecture as the broader Fireblocks platform. At the same time, as an NYDFS chartered entity, it functions as a regulated qualified custodian under New York State requirements.
Figment serves several institutional clients globally, including asset managers, exchanges, custodians, and foundations. Its validator infrastructure holds NORS certification and complies with OFAC requirements, SOC 2 Type II, and ISO 27001 standards.
Adam Levine, CEO of Fireblocks Financial Services, described SVRN's selection of Fireblocks Trust as its qualified custodian as recognition of the firm's institutional standards, and noted that the collaboration with Figment demonstrates how in-custody staking can generate returns without assets leaving a regulated framework.
In addition, Josh Deems, Head of Revenue at Figment, said the primary barrier to institutional staking has been product structure rather than investor conviction, and that the arrangement creates a pathway for a NEAR-based digital asset treasury to meet the custody and regulatory standards applied to other asset classes.
Furthermore, Sal Ternullo, CEO of SVRN, said that staking a position of the scale SVRN aims to manage requires partners that meet institutional standards for security and performance, and that qualified custody is a foundational element of the company's treasury strategy.
