About

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 adoption 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.

Simplify's Take

What believers are saying

• The partnership with Ledger to support Ethereum staking on Ledger Live simplifies the staking process for ETH holders, potentially increasing user adoption.
• Collaborations with MarketVector and Apex Group to launch staking ETPs on the SIX Swiss Exchange provide new investment opportunities and enhance Figment's market presence.
• The recent $12 million Series A funding round, co-led by Ethereal Ventures and Variant, indicates strong investor confidence and provides capital for further growth.

What critics are saying

• The highly competitive blockchain and cryptocurrency space requires continuous innovation to maintain market position.
• Regulatory uncertainties in the cryptocurrency industry could impact Figment's operations and client trust.

What makes Figment unique

• Figment's focus on institutional clients and comprehensive staking solutions sets it apart from competitors who may target retail investors or offer limited staking services.
• Their partnerships with industry leaders like Ledger and Crypto Finance enhance their credibility and expand their service offerings, providing a competitive edge.
• Figment's global reach and remote-first model allow them to attract top talent and serve clients across 23 countries, unlike competitors with more localized operations.

Help us improve and share your feedback! Did you find this helpful?

YesNo