Figment expands institutional staking into Latin America

The figure, an infrastructure supplier, is developing in Latin America with a new office in São Paulo, Brazil.

The company wishes to support the region’s growing blockchain ecosystem and increase its institution Javing services. Sthefano Batista was appointed chief of Latin America, reporting to Josh Deems, chief of the Americas, according to to a corporate note.

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

It will focus on strengthening partnerships and expanding the operations of figures in the region.

Staking allowed Crypto holders to win rewards by helping to secure blockchain networks. Institutions use development services to participate in the validation of blockchain without managing technical requirements.

The expansion of the figure responds to the increase in the demand of financial companies in Latin America.

Latin American crypto boom

Latin America has experienced rapid adoption of cryptography. A report De Chainalysis revealed that the region represents 9.1% of world cryptography transactions, although it represents a small part of the global financial markets.

The figure already serves institutional customers such as Mercado Bitcoin and Hashdex.

“With Sthefano conducting our efforts, we are well placed to extend the clearing services to Latin America,” said Josh.

The local file desk will help the company work more closely with partners and navigate the regulatory landscape.

Batista has emphasized the commitment of the fruit to the region, declaring that the company aims to offer stimulation opportunities that benefit both the institutions and holders of individual crypto.

The São Paulo office will house operations, protocol experts and marketing teams while the fruit continues to develop worldwide.