Figment CEO's Big Bet on Staking Nets $15B in Assets

Figment CEO Lorien Gabriel's Big Bet on Staking Has Paid Off

Lorien Gabriel, CEO of Figment, has spent decades building internet infrastructure companies, from ISPs to cloud security firms. In 2018, recognizing the transformative potential of proof-of-stake networks, he co-founded Figment, which has since become one of the world's largest independent staking providers. Figment offers technology and services that enable users to stake their tokens without having to use a centralized exchange or custodian.

Today, the company manages $15 billion in assets and serves over 500 institutional clients. Gabriel discusses Figment's expansion into Asia, bitcoin staking experiments, and the company's careful process for deciding which new crypto networks to support.

What led you to start Figment?

Gabriel and his co-founders, who have worked together for three decades, saw a natural alignment between their expertise in network security, cloud infrastructure, and scaling B2B solutions and the potential of proof-of-stake (PoS) networks. They believed that if PoS gained traction, their experience in building secure, institutional-grade networks would be invaluable. Figment was originally planned as a fund, but the staking infrastructure company came first, followed by Figment Capital.

How large is Figment now?

Figment currently manages $15 billion in staking assets and serves 500 institutional clients. The company has about 130 employees and expects to reach 150 by the end of the year. Asia is Figment's next big expansion focus, with plans to open offices in Japan, Hong Kong, and other key markets in addition to its existing Singapore office.

What challenges do you see to Asia's adoption of staking compared to other regions?

Asia is a diverse region with varying economies, regulatory landscapes, and business cultures. Compliance varies widely by country, and Western companies often struggle with local hiring, scaling strategies, and customer behavior. Figment started small in Singapore to learn the market before scaling. Education is also a challenge, as staking is not well-defined in many Asian markets and is sometimes misconstrued as DeFi lending.

What has been the biggest challenge in scaling your business, and how did you overcome it?

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