Infrastructure Company Bison Trails announced a new integration program with Coinbase Custody today. The New York-based company said that the integration will offer offline asset storage solutions to users. it will now allow Coinbase users to hold Solana tokens.
Extended integration between the two companies
Coinbase Custody provides offline asset storage solutions to its users. The service has been available for businesses since 2012. It allows users to store a majority of their crypto holdings offline. The coins are stored in geographically diverse vaults and are protected by an insurance policy by Lloyd’s of London. The service is regulated by the New York State Department of Financial Services.
With the new extended integration, users will also be able to hold Solana (SOL) token on Bison Trails platforms. It would also give users a new way to hold and stake their coins as users will be able to participate in staking directly via their Coinbase Custody interface.
Bison Trails CEO Joe Lallouz commented on the partnership and said,
“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.”
How will Bison Trails provide Solana staking?
Bison Trails provides “infrastructure as a service” to its users and allows users to participate in the blockchain industry. It helps other companies in engaging in blockchain networks without investing in developing their own technology that would be essential in connecting to blockchains themselves.
The integration is related to the Solana network, which provides the Solana tokens. The network can support 50,000 transactions per second. It is a proof-of-stake, single-chain protocol that is designed to provide scalability without giving up on security or decentralization. Coinbase Custody CEO Sam McIngvale said that the company is excited to offer its client a seamless way to stake their coins on new networks.
Coinbase recently started offering staking on Polkadot tokens using Bison Trails public validators.