Figment
Figment is a Toronto-based blockchain infrastructure provider offering non-custodial institutional staking services across 40+ Proof-of-Stake protocols, serving 500+ asset managers, custodians, exchanges, ETF issuers, and foundations with $15+ billion in staked digital assets.
- Company typePrivate
- Founded2018
- HeadquartersToronto, Canada
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Figment does
Figment is a Toronto-headquartered, venture-backed blockchain infrastructure company founded in 2018 that provides non-custodial institutional staking services for over 40 Proof-of-Stake (PoS) protocols, including Ethereum, Solana, Polkadot, Avalanche, Cosmos, NEAR, Aptos, Sui, and emerging networks such as Hyperliquid and Tempo. The platform operates validator nodes across multi-client Ethereum infrastructure (Lighthouse and Prysm) and supports the full lifecycle of institutional staking through a Staking App, programmatic APIs, white-label staking for partners, restaking via EigenLayer, liquid staking integrations, and three tiers of slashing coverage insurance. The company holds SOC 1 Type I, SOC 2 Type II, ISO 27001, and was the first entity in North America and Europe to achieve Full NORS (Node Operator Rating System) Certification for Ethereum in February 2026.
Figment's go-to-market is enterprise sales-led, targeting 500+ institutional clients including asset managers, exchanges, custodians, wallets, foundations, ETF issuers, and governments. Distribution is highly channelized through deep integrations with major custodians (Coinbase Prime, Fireblocks, Anchorage, Copper, BitGo), exchanges (Blockchain.com, FalconX, Binance US, Bitbuy), and ETF products (BlackRock iShares Staked Ethereum Trust, Morgan Stanley MSSE/MSOL, Grayscale Ethereum and Solana Trusts). The firm runs validators for prominent staking products including over $2 billion in staked assets facilitated through its Coinbase Prime integration and validator infrastructure behind BlackRock's and Morgan Stanley's staked-ETH ETF products.
The business model is recurring service-fee based: staking service fees are deducted directly by the Supported Blockchains from staking rewards and transferred to Figment, with fee levels publicly disclosed on each protocol's block explorer. The company monetizes across the institutional staking stack including base staking, restaking, liquid staking, white-label distribution, and slashing insurance, while managing over $15 billion in client staked digital assets. Figment has raised approximately $160 million in disclosed venture funding, anchored by a $110 million Series C led by Thoma Bravo at a $1.4 billion post-money valuation in December 2021, with strategic participation from Morgan Stanley, Binance Labs, and Anchorage Digital.
Figment firmographics
Firmographics- Name
- Figment
- Legal name
- Figment Inc.
- Website
- https://figment.io
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Figment is a Toronto-based blockchain infrastructure provider offering non-custodial institutional staking services across 40+ Proof-of-Stake protocols, serving 500+ asset managers, custodians, exchanges, ETF issuers, and foundations with $15+ billion in staked digital assets.
- Ownership category
- akta.pro rank
Figment industry classification
Industry- Product category
- Blockchain Staking Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Staking Infrastructure & Validator Enablement (Middleware, Slashing Protection, MEV Relays) (FSADAHAJ)
- akta.pro secondary industries
- Staking-as-a-Service Platforms (Non-Custodial) (FSADAHAF), Staking-as-a-Service (Managed Staking Providers) (FSADAOAK), Staking, Restaking & Liquid Staking Finance (LST/LRT, validator markets) (FSAPAEAH), Slashing Insurance, Validator Risk Management & Coverage (FSADAOAO)
Keywords
Where Figment is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Figment business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales, Supply Chain
Revenue model
- Staking-as-a-Service Fees: Service fees are charged directly by Supported Blockchains and transferred to Figment. The fees are publicly available on the relevant block explorer for each Supported Blockchain. This is a recurring revenue model where fees are deducted automatically by the blockchain protocol.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Pay-as-you-go | Standard Staking Services |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
Figment product offering
Product offeringCore offering
Figment operates non-custodial blockchain staking infrastructure for institutional clients across 40+ Proof-of-Stake protocols including Ethereum, Solana, Cosmos, Polkadot, Avalanche, NEAR, Aptos, and Sui. The platform offers validator operations, staking data APIs, white-label staking, liquid staking, slashing coverage insurance, restaking via EigenLayer, and the Rated Explorer analytics suite.
Product overview
Figment is a blockchain infrastructure provider offering a comprehensive suite of staking services for institutional clients. The platform operates on a modular architecture centered around the core Staking App and APIs, supplemented by specialized products including Restaking via EigenLayer, White Label Staking for partners, Liquid Staking, Slashing Coverage insurance, and Staking Data analytics. The portfolio also includes protocol-specific offerings such as EigenLayer Staking and Managed Validator Operations for Tempo. Following the acquisition of Rated Labs in October 2025, Figment expanded its data capabilities with the Rated Explorer and APIs. The company supports over 40 proof-of-stake protocols including Ethereum, Solana, Polkadot, Near, Avalanche, Cosmos, and others, with over $15 billion in assets staked through its infrastructure.
Differentiator
Problem solved
Functional benefit
Products and services
- Staking App Web-based application that allows institutional users to stake digital assets, manage validator positions, track portfolio rewards across networks, and access real-time staking data and reporting dashboards.
- Restaking Allows Ethereum stakers to restake their ETH through EigenLayer to earn additional rewards from Actively Validated Services (AVSs), with Figment operating as an AVS operator.
- APIs Programmatic interfaces enabling developers and institutions to integrate staking data, rewards tracking, validator performance metrics, and on-chain analytics into their own platforms and applications.
- White Label Staking Infrastructure solution allowing exchanges, custodians, and financial institutions to offer branded staking services to their customers using Figment's underlying validator infrastructure.
- Liquid Staking Enables institutions to access staking rewards while maintaining liquidity, integrated with partners for tokenized representations of staked assets.
- Slashing Coverage Insurance product protecting clients against potential losses from slashing penalties, offering three tiers of coverage to mitigate risks associated with validator misconduct.
- Staking Data Provides comprehensive staking analytics and performance data, including validator reports, reward tracking, and on-chain metrics for institutional decision-making.
- Rated Explorer and APIs Acquired blockchain analytics platform providing staking data visualization, validator performance analysis, and data APIs for institutional clients.
- OpenTrade Stablecoin Staking Yield A stablecoin yield product built on Solana in partnership with OpenTrade (with Crypto.com custody), enabling institutional clients to earn ~15% yield on stablecoin deposits using Figment's validator infrastructure.
- Managed Validator Operations for Tempo Provides managed validator infrastructure for the Tempo blockchain, a layer-1 network optimized for stablecoin payments at scale.
- EigenLayer Staking Allows EIGEN token holders to stake through Figment operators, earning rewards from Actively Validated Services (AVSs) while contributing to Ethereum's shared security model.
Quantifiable outcome
- 5.8% of all staked ETH on Ethereum is held by Figment validators
- +3 more outcomes
Companies that use Figment
Customer profileNamed customers18 records
Segments7 records
Ideal customer profiles4 records
Figment technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
Feature5 records
Figment partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered core and minor.
- FireblockscoreFireblocks and Figment announced institutional staking capability for NEAR protocol, with SVRN becoming the first institution to go live. Figment's validator infrastructure enables eligible digital asset holders to earn staking rewards while assets remain under qualified custody.
- Morgan StanleycoreFigment serves as one of three named staking service providers for Morgan Stanley's spot Ethereum (MSSE) and Solana (MSOL) ETF products. The 0.14% fee structure allocates 5% of staking rewards to service providers.
- Galaxy Blockchain InfrastructurecoreCo-staking provider alongside Figment and Coinbase Canada for Morgan Stanley's spot ETH and SOL ETFs, all charging 0.14% fees with 5% staking rewards to providers.
- Coinbase CanadacoreCo-staking provider alongside Figment and Galaxy for Morgan Stanley's spot ETH and SOL ETF products.
- SecurosyscoreRipple partnered with Securosys and Figment for institutional custody infrastructure, with Securosys providing hardware security modules and Figment providing staking services.
- BlackRockcoreFigment runs validators for BlackRock's iShares Staked Ethereum Trust ETF (ETHB), which launched on Nasdaq with 80% staked Ether and 20% Ether custodied by Coinbase.
- RipplecoreFigment partnered with Ripple to provide institutional staking services for Ethereum and Solana through Ripple Custody platform. This enables banks and custodians to offer staking without operating their own validator infrastructure, with embedded compliance checks.
- Anchorage DigitalcoreAnchorage expanded support for HYPE staking on HyperCORE blockchain, partnering with Figment to run validator infrastructure for institutional DeFi and staking participation.
- OpenTrademinorFigment and OpenTrade launched a Solana-based stablecoin yield product targeting 15% yield, with custody provided by Crypto.com, offering institutional access to Solana staking rewards and derivatives hedging.
- ConcreteminorConcrete and Figment partnered to expand institutional access to BTC and XRP through active yield strategies without compromising custody or security, leveraging Concrete's vault architecture and Figment's staking infrastructure.
- Coinbase PrimecoreExpanded partnership allowing Coinbase Prime institutional clients to stake proof-of-stake assets including Solana, Sui, Aptos, and Avalanche directly from custody. Integration facilitated over $2 billion in staked assets.
- RenzocoreFigment serves as primary node operator partner for Renzo, the first liquid restaking protocol. Figment runs an operator to validate AVSs of Renzo's choosing, secured by Renzo depositors' restaked ETH.
- Rated LabscoreFigment acquired Rated Labs, a blockchain analytics firm, to integrate its Explorer and data API into Figment's ecosystem, enhancing blockchain staking data and performance analysis services for institutional clients.
- Bit DigitalcoreBit Digital, an Ethereum-native treasury company with over $532.5 million in ETH holdings, selected Figment as its primary staking provider for institutional-grade ETH staking and risk management.
- GrayscalecoreGrayscale partnered with Figment to manage staking operations for Ethereum and Solana Trust products, leveraging Figment's infrastructure for passive income generation.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Figment competitors and assessment
Company assessmentBroad incumbents
- Coinbase: Coinbase operates a large institutional and retail staking program across multiple PoS networks and is both a partner (Coinbase Prime) and a competitor to Figment. Overlap in validator operations, staking-as-a-service, and embedded custody distribution makes it a direct comparable, though Coinbase's breadth across exchange, custody, and retail adds scale advantages.
- Binance: Largest crypto exchange globally, operating a centralized staking-as-a-service program across many PoS assets. Overlaps with Figment on staking infrastructure and is also an investor (Binance Labs) and a counterparty, though distribution is primarily retail and B2B2C via Binance US.
- Kraken: Major crypto exchange with a long-running staking program across multiple PoS networks. Competes with Figment in the staking-as-a-service market from a CEX-led distribution model, complementing rather than fully overlapping Figment's institutional/custody-embedded positioning.
Direct peers
- Anchorage Digital: Federally chartered digital asset bank offering institutional custody and staking-as-a-service across multiple PoS protocols. Both firms target institutional staking clients and have co-staking and partnership relationships (e.g., Hyperliquid/HYPE), making them closely comparable on product and customer.
- Blockdaemon: Blockchain infrastructure provider running validator nodes across 40+ PoS networks, competing directly with Figment for institutional staking mandates. Both serve exchanges, custodians, and asset managers with comparable validator infrastructure and were recently added together on the Fireblocks ETH Staking Link platform.
- P2P.org: Major non-custodial staking provider supporting 30+ PoS networks with a similar institutional go-to-market. Direct competitor on validator operations, and like Figment, is a listed provider on the Fireblocks ETH Staking Link marketplace.
- Kiln: Institutional-grade staking-as-a-service platform supporting Ethereum, Solana, and other PoS networks with white-label and API-first offerings. Closely comparable to Figment in target customer, product surface, and embedded distribution via Fireblocks and other custodians.
- Stakefish: Validator and staking-as-a-service provider operating across major PoS networks with an institutional focus. Competes with Figment on multi-protocol validator coverage, white-label offerings, and enterprise client support.
- Everstake: Non-custodial staking provider supporting 30+ PoS networks, including white-label solutions for exchanges and custodians. Direct competitor in the multi-chain validator and SaaS staking space, with overlapping institutional and exchange customer base.
Emerging players
- Allnodes: Hosting and staking platform supporting multiple PoS networks with both retail and institutional offerings. While smaller in institutional share than Figment, it is a competing validator operator with non-custodial and white-label capabilities.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Figment social profiles
Digital presenceFigment compliance and trust
Trust signalCompliance5 records
Figment financial estimates
Financial estimateRevenue estimate
Valuation estimate
Figment leadership team
Management profileNumber of profiles
Profiles10 records
Figment subsidiaries and ownership
Company hierarchySubsidiaries1 record
Figment funding detail
Funding detailFunding overview
Funding rounds8 records
Investors58 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Figment M&A and investment
M&A and investmentM&A1 record
Investments36 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Figment
What does Figment do?
Figment operates non-custodial blockchain staking infrastructure for institutional clients across 40+ Proof-of-Stake protocols including Ethereum, Solana, Cosmos, Polkadot, Avalanche, NEAR, Aptos, and Sui. The platform offers validator operations, staking data APIs, white-label staking, liquid staking, slashing coverage insurance, restaking via EigenLayer, and the Rated Explorer analytics suite.
Is Figment a public or private company?
Figment is a private company. It is classified as venture growth investor backed and is currently operating.
When was Figment founded?
Figment was founded in 2018. It employs 101 to 250 people.
Where is Figment based?
Figment is headquartered in Toronto, Canada, in the North America region.
How does Figment make money?
One revenue line is on record: staking-as-a-Service Fees.
Who are Figment's main competitors?
Broad incumbents on record are Coinbase, Binance and Kraken. Direct peers are Anchorage Digital, Blockdaemon, P2P.org, Kiln, Stakefish and Everstake. Allnodes is listed as an emerging player.
Does Figment have an API?
Yes. Figment provides APIs for developers to integrate staking data, rewards tracking, and validator performance metrics. The APIs enable programmatic access to portfolio rewards tracking, validator address reporting, and on-chain data analytics. The developer documentation is available at docs.figment.io. Developer documentation is at docs.figment.io.
What industry is Figment in?
Figment's product category is Blockchain Staking Infrastructure. Its primary akta.pro industry code is FSADAHAJ, Staking Infrastructure & Validator Enablement (Middleware, Slashing Protection, MEV Relays), with a secondary code of FSADAHAF, Staking-as-a-Service Platforms (Non-Custodial). Its NAICS code is 522320 and its SIC code is 6199.