Figment, a major player in blockchain staking services, has acquired rates lab, a blockchain analytics firm known for validator performance data. The acquisition value was not disclosed.
The Toronto-based firm, which manages more than $18 billion in staked assets, said the move will help its clients, mainly exchanges, custodians, and asset managers, make better decisions through stronger data transparency.
Rated, based in the UK and founded in 2022, provides tools such as Rated Explorer and Data API to monitor staking performance across networks including Ethereum, Solana, Cosmos, and others.
The move marks a significant step in Figment’s push into Spend up to $ 200 million with acquisitions focused on regional and network players such as Cosmos and Solana.
In a statement shared with Coindesk, Figment’s chief product officer Andrew Cronk said that “transparent and reliable data remains the foundation of trust,” especially as staking becomes a larger part of institutional portfolios.
Figment plans to keep the rated explorer site live and test Enterprise API offerings to customers over the next 30 to 45 days.
The deal is part of a broader wave of crypto consolidation, driven in part by a more favorable US regulatory climate. Recent high-profile transactions include Kraken’s $1.5 billion acquisition of Ninjatrader and Ripple’s $1.25 billion purchase of the Hidden Way.
Despite the murky activity, Figment is not looking for outside funding and has ruled out a sale. Its CEO Lorien Gabel, who previously founded three startups, said he was committed to building figment independently.
“I’d rather go to zero,” he said earlier this year. The company has raised $165 million to date, with backers including Thoma Bravo, Morgan Stanley, and Franklin Templeton according to data from TheTie.
