Yes, you can be both a part of a workplace and in a team.
When you register as a participant, you will be asked to either create your workplace, or join an existing workplace. This is a workplace group.
Once you have created your fundrsubteam" or "join an existing subteam".
An example of how this could be used would be if you registered as a participant for XYZ organisation (workplace group) and then created a team just for the Sales team.