Figment CEO Lorien Gabriel’s Successful Staking Strategy
In the realm of digital finance, one name stands out among the rest – Lorien Gabriel, the co-founder and CEO of Figment. A seasoned veteran in the world of internet infrastructure, Gabriel has a track record of success in building companies from the ground up, ranging from ISPs to cloud security firms. However, it was in 2018 that he made a pivotal decision that would set him on a new path – the decision to dive headfirst into the world of staking.
Staking, a process that involves actively participating in transaction validation on a proof-of-stake (PoS) blockchain, was still in its infancy back in 2018. Tezos had just launched, and Ethereum was only beginning to explore the concept. But Gabriel saw the potential for staking to revolutionize the way digital assets are managed and secured. And thus, Figment was born.
Fast forward to today, and Figment has solidified its position as one of the world’s largest independent staking providers. With a staggering $15 billion in assets under management and a client base of over 500 institutional players, the company has firmly established itself as a force to be reckoned with in the crypto space.
Expanding into Asia: A New Frontier
While Figment’s roots may lie in North America, Gabriel has set his sights on conquering new horizons – particularly in Asia. With the opening of a Singapore office and plans to expand into markets like Japan and Hong Kong, Figment is gearing up for its next phase of growth. However, as Gabriel notes, Asia presents its own unique set of challenges.
Unlike the relatively homogenous regulatory landscape of the U.S., Asia is a patchwork of diverse economies and regulatory frameworks. Each country presents its own set of hurdles, from compliance issues to cultural nuances. Gabriel, drawing on his personal experience growing up in Kuala Lumpur, understands the importance of taking a measured approach to expansion in Asia. Starting small in Singapore with just three employees, Figment is focused on learning the lay of the land before scaling up operations.
The Road Ahead: Navigating Uncertainty
As Figment continues to chart its course in the ever-evolving world of staking, Gabriel remains keenly aware of the challenges that lie ahead. From navigating crypto’s notorious volatility to making strategic decisions about which tokens to support, every step of the journey poses its own set of obstacles.
One key area of focus for Figment is catering to the growing demand for staking services among institutional players in Asia. Banks, telecoms, and traditional financial institutions are increasingly looking to stake their claim in the crypto space, presenting both opportunities and challenges for Figment. By forging partnerships with key players in the region and staying ahead of the curve on regulatory matters, Gabriel and his team are positioning Figment for success in the Asian market.
In the fast-paced world of crypto, innovation is the name of the game. From liquid staking to new chains with significant Asian influence, the landscape is constantly evolving. With projects like Babylon exploring the potential of Bitcoin staking and chains like BeraChain gaining traction in the region, Figment is at the forefront of these exciting developments.
As Gabriel and his team continue to push the boundaries of what is possible in the world of staking, one thing is clear – the future of finance is being shaped before our eyes. And with Figment leading the charge, the possibilities are truly endless.
Mason Marcobello, an Australian writer, aspiring creative technologist, and entrepreneur, captures the essence of Figment’s journey in the ever-changing world of digital finance. His insights shed light on the challenges and opportunities that lie ahead for Gabriel and his team as they navigate the complexities of the crypto landscape.
So, as the sun sets on another day in the world of digital finance, one thing is certain – the story of Figment is far from over. As Gabriel and his team continue to blaze new trails and push the boundaries of what is possible, the future of staking shines brighter than ever.