Figment

Figment

Provides staking solutions for cryptocurrency

About Figment

Simplify's Rating
Why Figment is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Fintech

Crypto & Web3

Company Size

51-200

Company Stage

Series C

Total Funding

$160.5M

Headquarters

Toronto, Canada

Founded

2018

Overview

Figment provides staking solutions in the blockchain and cryptocurrency industry, allowing cryptocurrency holders to earn rewards by validating transactions on blockchain networks. Their services include staking applications, validators, and slashing coverage, which protect clients from penalties for improper validation. Figment supports over 500 institutional clients, such as asset managers and exchanges, by offering a strong infrastructure and APIs to help maximize staking rewards. Operating in 23 countries, Figment is a remote-first company focused on the Web3 ecosystem, aiming to promote the growth and success of blockchain technology. Their business model involves charging fees based on the staking rewards earned by clients, while also offering tailored solutions for various sectors like asset management and custodians.

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Simplify's Take

What believers are saying

  • Partnerships with Zodia Custody and Rakkar Digital expand Figment's institutional client base.
  • Increased demand for Ethereum staking boosts Figment's growth in the proof-of-stake market.
  • Joining the Blockchain Association enhances Figment's influence in shaping U.S. crypto regulations.

What critics are saying

  • New entrants in the staking market, like Tungsten, could erode Figment's market share.
  • Regulatory changes in the U.S. may impact Figment's operations and business model.
  • Technical challenges in the Ledger partnership could affect Figment's reputation and service reliability.

What makes Figment unique

  • Figment offers comprehensive staking solutions for over 500 institutional clients globally.
  • The company provides unique liquid staking options, maintaining liquidity while earning rewards.
  • Figment's Hubble Web 3 explorer and DataHub APIs support blockchain development and governance.

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Funding

Total Funding

$160.5M

Above

Industry Average

Funded Over

3 Rounds

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
Medium
$62M
SeatGeek
$100M
Oura
$110M
Figment

Benefits

Remote Work Options

Unlimited Paid Time Off

Health Insurance

Parental Leave

Home Office Stipend

Phone/Internet Stipend

Professional Development Budget

401(k) Company Match

401(k) Retirement Plan

Stock Options

Performance Bonus

Growth & Insights and Company News

Headcount

6 month growth

-3%

1 year growth

-1%

2 year growth

-6%
Financial News
Feb 18th, 2025
BTCS Unveils Strategic Partnership with Figment and WonderFi Leading its Staker Protection Plan

BTCS Inc. (Nasdaq: BTCS) ("BTCS" or the "Company"), a leader in blockchain infrastructure and technology, is pleased to announce its partnership with Figment Inc. ("Figment"), one of the world's foremost blockchain infrastructure providers, for the launch of its Staker Protection Plan.

Finsmes
Feb 13th, 2025
Figment Joins Blockchain Association To Advance U.S. Crypto Policy And Institutional Staking Adoption

Today, Figment, the leading independent staking infrastructure provider with over $15B in staked assets, announced it is joining the Blockchain Association, the leading trade association for the cryptocurrency industry in the United States. Joining forces with the country’s preeminent exchanges, venture capital firms, infrastructure, and service providers emphasizes Figment’s continued leadership role in shaping regulation that facilitates institutional crypto adoption.As institutional interest in protocol staking continues to grow, Figment’s membership in the Blockchain Association reinforces its commitment to working with policymakers and regulators to establish clear guidelines for the staking ecosystem in particular. This collaboration comes at a crucial time as the industry seeks regulatory clarity, particularly regarding the treatment of protocol staking in exchange-traded products.“We are excited to welcome Figment as a member of the Blockchain Association. As the U.S. moves into a new era for digital assets, establishing regulatory clarity around staking will be critical. We look forward to the Figment team lending their expertise to these policy conversations in DC”, states Kristin Smith, CEO at Blockchain Association.Through the Association, Figment will focus on key educational and advocacy initiatives, including:Protocol staking in ETPsDevelopment of staking regulatory frameworksEducation on the distinction between protocol staking and yield productsCross-jurisdictional policy alignmentAs a member of the Blockchain Association, Figment strengthens its position as a trusted voice in shaping the future of digital asset infrastructure

Business Wire
Jan 17th, 2025
Reown Raises $13 Million to Build the Onchain UX Platform

Reown (formerly known as WalletConnect) today announced it has closed a $13 million Series B funding round.

Asset Servicing Times
Dec 10th, 2024
Zodia Custody expands staking options with Figment

Zodia Custody has partnered with Figment to expand its staking options.

Tungsten
Oct 18th, 2024
Pioneering Secure Staking Solutions in the Middle East

Dubai, UAE, October 18, 2024 - Tungsten, a ground-breaking provider of secure asset custody solutions, announced today its partnership with Figment, the leading provider of institutional staking infrastructure.

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