Staking infrastructure provider Figment is expanding its operations in Latin America by opening a new office in São Paulo, Brazil.
Figment's New Venture in Brazil
Figment aims to support the region’s growing blockchain ecosystem and enhance its institutional staking services. Sthefano Batista has been appointed as Head of Latin America, reporting to Josh Deems, Head of Americas. Batista brings experience from traditional finance and digital assets, having worked at companies like Paradigm, BTG Pactual, and MSCI. His focus will be on strengthening partnerships and expanding Figment’s operations in the region.
Importance of Staking for Institutional Clients
Staking allows crypto holders to earn rewards by helping secure blockchain networks. Institutions use staking services to participate in blockchain validation without handling technical requirements. Figment’s expansion responds to rising demand from financial firms in Latin America.
Crypto Boom in Latin America
Latin America has seen rapid crypto adoption. A report from Chainalysis found that the region accounts for 9.1% of global crypto transactions, despite representing a small share of global financial markets. Figment already serves institutional clients such as Mercado Bitcoin and Hashdex.
Figment’s São Paulo office will help the company work more closely with partners and navigate the regulatory landscape. Batista emphasized Figment’s commitment to the region, stating that the company aims to provide staking opportunities that benefit both institutions and individual crypto holders.
