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Bitvavo Partners with Figment to Enhance Staking Services Across Multiple Networks
Amsterdam-based cryptocurrency exchange Bitvavo, the largest EUR spot exchange globally, has announced a strategic collaboration with Figment, a leading provider of staking infrastructure. This partnership will see Bitvavo leveraging Figment’s institutional-grade infrastructure to power its staking services, potentially influencing the landscape of staking services in Europe.
Utilizing Figment’s Staking Infrastructure
Figment, which received significant investments from industry giants like Galaxy Digital in 2021, will provide staking infrastructure for Bitvavo. This collaboration will enable Bitvavo to offer staking services across multiple networks, including Ethereum (ETH), Solana (SOL), and NEAR, among others.
Key Features of the Collaboration
- Access to over 250 crypto assets
- Approximately 1.5 million users
- Registered with the Dutch Central Bank
The protocol staking service offered through Bitvavo and Figment includes access to staking rewards on newly launched networks, dedicated validator nodes for enhanced network performance and security, and advanced reporting capabilities for oversight and transparency.
Expanding Staking Service Providers
Figment’s involvement represents an expansion and diversification of Bitvavo’s pool of staking service providers, which already includes Coinbase, Copper, and Kiln. This collaboration aims to offer additional security and safety around staking while expanding service offerings.
Bitvavo Expands Strategic Presence in Europe
Bitvavo is executing a strategic expansion plan across Europe, taking advantage of the continent’s favorable regulatory landscape. With the implementation of the Markets in Crypto Assets (MiCA) regulation, Europe has become an attractive destination for global crypto investors, offering streamlined licensing procedures and enhanced stakeholder protection.
Regulatory Approval and Market Expansion
In November 2023, Bitvavo secured regulatory approval from France’s Autorité des Marchés Financiers, enabling the exchange to launch its services for French users. This milestone followed Bitvavo’s entry into the Austrian market and its introduction of services in Italy in 2022. The company is actively pursuing registration applications in other key European markets.
Driving Global Crypto Adoption in Europe
Nuvelstigen, CEO of Bitvavo, expressed confidence in Europe’s potential to drive global crypto adoption, citing the region’s unified licensing framework. This framework allows exchanges to operate seamlessly across multiple European countries, streamlining regulatory compliance.
Nuvelstigen highlighted the strategic significance of the French market, noting a growing interest in digital assets among French citizens. Recent studies indicate that crypto assets constitute 9% of investment portfolios in France, making it the second most popular asset class in the country.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
