Binance Partners with Figment for ETH Staking Infrastructure

Binance, one of Japan's leading crypto exchanges, has chosen Figment as its infrastructure provider for ETH staking. Figment is a non-custodial staking infrastructure provider based in Toronto, Canada.

Figment was selected after Binance conducted a thorough due diligence process to ensure that the provider met high standards in terms of operation and security.

The company has obtained certification from the Node Operator Risk Standard (NORS) for its Ethereum node operations management. It also complies with SOC 2 Type II and ISO 27001 standards, and has implemented measures to prevent slashing, a penalty that can reduce staked ETH in cases of validator misconduct.

Figment's services are used by over 1,500 institutions, including asset managers, exchanges, custodians, and foundations worldwide. The company operates a significant portion of the validators on the Ethereum network, representing more than 6% of all staked ETH.