Bitvavo, a cryptocurrency exchange based in the Netherlands, has partnered with staking platform Figment to utilize its institutional-grade infrastructure for staking various tokens on behalf of Bitvavo users. Figment, which received significant investments from Galaxy Digital in 2021, will provide staking infrastructure for the Dutch exchange, allowing Bitvavo to stake user assets across multiple proof-of-stake protocols such as Ethereum, Solana, and Near.
Mark Nuvelstijn, the CEO and co-founder of Bitvavo, emphasized the exchange’s commitment to reviewing and improving its products and services. He also confirmed that Figment is an addition to its pool of staking service providers, which already includes Coinbase, Copper, and Kiln. Nuvelstijn stated that staking has become an essential part of the cryptocurrency industry and is a crucial service for their customer base of over 1.5 million users in the Benelux region. The partnership with Figment will enhance the security and safety of Bitvavo’s staking services and expand its offerings.
Eva Lawrence, Figment’s head of Europe, the Middle East, and Africa, mentioned that the two teams have been collaborating for six months to spearhead Bitvavo’s staking services across Europe. The partnership will grant access to staking rewards on Bitvavo for newly launched networks. Additionally, Figment will establish dedicated validator nodes for Bitvavo to ensure high-quality network performance and security.
Bitvavo has been steadily expanding its presence in Europe. In November 2023, it announced the launch of services for French users after obtaining registration as a digital asset service provider from France’s Autorité des Marchés Financiers. Prior to that, the exchange received regulatory approval to offer its services in Austria and expanded to Italy in 2022. Bitvavo has also filed registration applications for other major European markets.
Earlier, during the European Blockchain Convention in October 2023, Mark Nuvelstijn spoke exclusively to Cointelegraph and expressed his belief that Europe’s Markets in Crypto-Assets framework will enable cryptocurrency companies to offer financial services and vice versa.
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