Figment, a leading independent staking infrastructure provider, has announced its membership in the Blockchain Association, the primary trade association representing the cryptocurrency industry in the United States. This move aligns Figment with top exchanges, venture capital firms, infrastructure providers, and service firms in the country to advocate for broader institutional adoption of digital assets.
The company, which manages over $15 billion in staked assets, aims to contribute its expertise in staking to policy discussions in Washington, D.C. Industry leaders have emphasized that as the U.S. transitions into a new phase for digital assets, establishing clear regulations around staking will be essential. The partnership is expected to reinforce efforts toward developing a well-defined framework for the industry.
Advancing Institutional Adoption of Staking
The cryptocurrency sector in the U.S. is navigating a crucial period in which regulatory clarity remains a key factor in its continued growth. At the same time, institutional interest in digital assets is on the rise. Figment’s collaboration with the Blockchain Association reflects its commitment to fostering institutional engagement with cryptocurrency, particularly in the staking sector.
As part of its advocacy, the company is focusing on four primary areas: the inclusion of protocol staking in exchange-traded products (ETPs), the formulation of staking-specific regulatory policies, educational initiatives that differentiate protocol staking from yield-generating products, and ensuring consistency in policy frameworks across different jurisdictions.
Enhancing Credibility and Industry Standards
Figment’s involvement with the Blockchain Association is expected to bolster its reputation as a key player in shaping the future of digital asset infrastructure. By engaging in policy discussions and industry initiatives, the company aims to further enhance its ability to serve its more than 700 institutional clients while promoting responsible and sustainable industry practices.
Prior to joining the association, Figment had actively engaged with American policymakers to highlight the importance of staking in maintaining the security and decentralization of Proof-of-Stake (PoS) networks. The firm now seeks to advance discussions surrounding the inclusion of staking in ETPs, as well as support financial institutions in integrating staking within regulated frameworks through policies such as SAB 122.
The Growing Importance of Proof-of-Stake Networks
Industry analysts have pointed out that PoS networks now represent a market capitalization of approximately $633 billion, offering a more energy-efficient alternative to the traditional Proof-of-Work mining model. With regulatory approval for Ethereum exchange-traded funds (ETFs) setting a precedent, PoS networks are positioned for further growth, making Figment’s initiatives more relevant than ever.
By joining forces with the Blockchain Association, Figment aims to solidify its role in shaping the regulatory landscape for staking and ensuring that institutional stakeholders can navigate and leverage staking opportunities effectively within the evolving financial ecosystem.
