Figment, a staking infrastructure provider, is expanding into Latin America with a new office in São Paulo, Brazil. 

The company wants to support the region’s growing blockchain ecosystem and increase its institutional staking services. Sthefano Batista has been appointed as Head of Latin America, reporting to Josh Deems, Head of Americas, according to a company note. 

Batista has experience in traditional finance and digital assets, with roles at Paradigm, BTG Pactual, and MSCI. 

His focus will be on strengthening partnerships and expanding Figment’s operations in the region.

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.

Latin America’s crypto boom

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.

“With Sthefano leading our efforts, we are well-positioned to expand staking services in Latin America,” said Josh Deems.

Figment’s local 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. 

The São Paulo office will house operations, protocol experts, and go-to-market teams as Figment continues to expand globally.