Figment, a staking infrastructure provider, is expanding into Latin America with a new office in São Paulo, Brazil.
Increasing its institutional staking services and providing assistance for the expanding blockchain ecosystem in the region are two goals that the company has set for itself.
According to a statement released by the company, Sthefano Batista has been assigned to the position of Head of Latin America. He will report to Josh Deems, who is the head of the Americas. The jobs that Batista has held at Paradigm, BTG Pactual, and MSCI have provided him with substantial exposure in both traditional finance and digital assets.
The expansion of Figment’s operations in the region and the strengthening of partnerships will be his primary priority. Those who hold cryptocurrencies can earn rewards through staking by contributing to the security of blockchain networks.
It is possible for institutions to participate in blockchain validation by utilizing staking services, which handle the technical requirements for them. The expansion of Figment is a response to the growing demand from financial companies in Latin American countries.
Latin America’s crypto boom
Cryptocurrency has witnessed a remarkable acceptance rate in Latin America. A survey by Chainalysis discovered that the region is responsible for 9.1% of all cryptocurrency transactions worldwide, although it only accounts for a small portion of the global financial markets.
Establishments such as Mercado Bitcoin and Hashdex are among the institutional customers that Figment already supports. “We are well-positioned to expand staking services in Latin America,” said Josh Deems. “Under Sthefano’s leadership, we are able to accomplish this.
Through the establishment of a local office, Figment will be able to improve its ability to collaborate with partners and manage the regulatory landscape. Batista reiterated Figment’s commitment to the region, noting that the company intends to provide staking options that are beneficial to both institutions and ordinary cryptocurrency investors.
The office in São Paulo will serve as a place for operations, protocol experts, and go-to-market teams as Figment continues to expand its activities across the globe.
