Figment, a major player in blockchain staking services, has acquired Rated Labs, a blockchain analytics company known for its validator performance data. The value of the acquisition was not revealed.
The Toronto-based company, which manages more than $18 billion in staked assets, says the move will help its clients, primarily exchanges, custodians and asset managers, make better staking decisions through greater data transparency.
Rated, based in the UK and founded in 2022, provides tools such as Rated Explorer and data APIs to track staking performance on networks including Ethereum, Solana, Cosmos and others.
The move marks a significant step in Figment’s push to spend up to $200 million on acquisitions focused on regional players and networks like Cosmos and Solana.
In a statement shared with CoinDesk, Figment Chief Product Officer Andrew Cronk said that “transparent and reliable data remains the foundation of trust,” especially as staking becomes a more important part of institutional portfolios.
Figment plans to keep the Rated Explorer site online and will review enterprise API offerings with customers over the next 30-45 days.
The deal is part of a broader wave of crypto consolidation, driven in part by a more favorable U.S. regulatory climate. Recent high-profile deals include Kraken’s acquisition of NinjaTrader for $1.5 billion and Ripple’s purchase of Hidden Road for $1.25 billion.
Despite the intense activity, Figment is not seeking external financing and has ruled out any 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.
