StakingMarketRegulationCryptostake ExplainsUncharted
Figment’s Phenomenal Growth: $15 Billion in Crypto Staked and an Expansion into European Market

Significant growth and strategic client focus

Figment, a leading institutional staking infrastructure provider, has reported a fivefold increase in growth for the first quarter of 2024, coinciding with the launch of new staking ETPs for Ethereum and Solana.

Key takeaways:

  • Figment reported a significant increase in staked assets, surpassing $15 billion in Q1 2024.
  • The company launched Ethereum and Solana staking ETPs in Europe, catering to strong client demand.
  • Expansion efforts include establishing a new base in the UK and enhancing network security measures.

In the first quarter of 2024, Figment demonstrated remarkable growth, with its staked assets reaching over $15 billion, a significant increase from the previous year. This growth was propelled by the trust and reliability Figment provides to over 500 institutional clients, navigating them through the complex blockchain landscape with a focus on trust, risk-adjusted rewards, and regulatory clarity. 

Lorien Gabel, CEO and co-founder stated:

"At Figment, we recognize the priorities of our customers who seek assurance in their blockchain engagements," 

He emphasized the company's commitment to transparency, security, and compliance as fundamental to its operations. Concurrently, Figment partnered with Apex Group to launch staking Exchange-Traded Products (ETPs) for Ethereum and Solana on the SIX Swiss Exchange, offering institutions streamlined access to staking rewards

These products, designed to integrate seamlessly with traditional brokerage and banking services, reflect Figment's strategic response to customer demand and its ability to adapt to market needs.

European expansion and enhanced security measures

Amidst its financial success, Figment has also strategically expanded its geographical footprint. The establishment of Figment Europe Ltd in the UK marks a significant step in its broader European and Asia-Pacific expansion strategies. This new entity spearheaded the launch of innovative staking products, meeting the rising demand for Ethereum and Solana solutions among European clients. 

Further enhancing its service offerings, Figment has added validators in Ireland, employing a strategic isolation approach to ensure operational independence and security across regions. This setup is crucial in preventing double signing and slashing events—common risks in blockchain networks where validators may inadvertently or maliciously sign conflicting blocks. 

By mitigating these risks, Figment not only safeguards its clients' investments but also strengthens the integrity and reliability of its staking services, reinforcing its commitment to maintaining high standards of network security and participant trust.