Figment Expands Middle East Presence as Digital Asset Adoption Accelerates

Figment, the leading independent provider of institutional staking infrastructure, is strengthening its presence in the Middle East as the adoption of digital assets gains momentum across the region.

As part of this strategic expansion, Figment has appointed Christoph Richter as its first Head of Business Development for the Middle East and announced a key partnership with UAE-based custody provider Tungsten, a trusted name in institutional digital asset services. The collaboration leverages Tungsten’s established market position and existing licensing within the Abu Dhabi Global Market (ADGM), enabling enhanced, non-custodial staking solutions for clients through Figment’s infrastructure.

This development marks a significant step in expanding compliant staking access across the UAE and the broader MENA region, with Christoph set to become Figment’s first on-the-ground hire in the territory.

“Staking can be understood as earning the risk-free rate on proof-of-stake networks like ETH and SOL,” stated Christoph Richter. “With inflation-beating rewards and rising institutional digital asset allocations, staking is becoming a core strategy — and the MENA region is ready.”

A Strategic Regional Focus

Figment’s formal entry into the Middle East is driven by growing demand for compliant, reward-generating solutions aligned with long-term digital asset investment strategies.

“The Middle East is uniquely positioned to benefit from institutional staking,” said Eva Lawrence, Figment’s Head of EMEA and Regional Managing Director. “With Christoph’s deep background in traditional finance and digital assets, he’s perfectly placed to lead our growth in this high-potential market.”

Christoph will oversee business development and strategic partnerships, reporting directly to Eva Lawrence. He brings nearly two decades of experience in traditional finance derivatives, having held senior positions at JP Morgan, Barclays, BNP Paribas, and UBS. In his most recent traditional finance role, he led derivative solutions for Southern Europe and the DACH region at MUFG. Since transitioning to the digital asset sector in 2017, he has advised top-tier firms and co-founded the proprietary BTC and ETH trading venture, Vol Capital, building market-neutral quantitative investment strategies.

He also offers considerable experience in major infrastructure Public Private Partnership (PPP) transactions across the Middle East, notably in Saudi Arabia, establishing strong relationships with key regional stakeholders and capital markets. Now based in the UAE and fluent in five languages, Christoph adds a truly global perspective to Figment’s regional growth strategy.

Ongoing Global Investment and Regional Leadership

This move forms part of Figment’s broader international expansion across EMEA, the Americas, and APAC, driven by increasing institutional demand for secure, regulatory-aligned staking solutions. Christoph’s appointment and the strategic partnership with Tungsten reaffirm Figment’s commitment to investing in local leadership and infrastructure tailored to regional requirements.

With institutional staking emerging as a core strategy globally — supported by staking yields that, according to Staked’s Q1 2024 report, averaged around US$3.5 billion annually — Figment continues to solidify its position as the most trusted name in institutional staking infrastructure.