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Netherlands-based cryptocurrency exchange Bitvavo will utilize Figment’s enterprise-level staking infrastructure to stake various tokens on behalf of its users. Having received significant investments from entities like Galaxy Digital in 2021, Figment announced it would provide staking infrastructure to the Dutch exchange. Bitvavo will stake user assets across multiple protocols including Ethereum, Solana, and NEAR.
Crypto Exchange Takes Notable Step
Bitvavo CEO and co-founder Mark Nuvelstijn highlighted the exchange’s efforts to review and improve its products and services. The company also confirmed the expansion and diversification of Figment’s pool staking service providers, including Coinbase, Copper, and Kiln.
Nuvelstijn added that the staking process has become an integral part of the cryptocurrency industry and that this service is significant for its customer base of over 1.5 million users in the Benelux region. The Bitvavo CEO stated that working with Figment will provide additional security and safety in staking and expand their offerings, commenting:
“Figment, one of the leaders in the market for staking infrastructure, continues to influence us with their staking and current market insights.”
Figment EMEA president Eva Lawrence mentioned that the two teams have been working together for six months to lead the exchange’s staking services across Europe. The partnership will provide access to staking rewards on newly launched networks at Bitvavo. Figment is also setting up dedicated validator nodes to ensure high-quality network performance and security for Bitvavo.
Bitvavo and Its European Strategy
The Dutch exchange has maintained a steady approach to expanding its services across Europe. In November 2023, after successfully registering as a crypto asset service provider with France’s Autorité des Marchés Financiers (AMF), it announced the launch of services for French users.
The expansion into France followed regulatory approval to offer services in Austria, with the exchange extending its offerings to Italy in 2022 and applying for registrations in other major European markets.
Previously, in October 2023, Nuvelstijn spoke exclusively at a Blockchain Event in Barcelona, emphasizing his belief that Europe’s Crypto Asset Markets (MiCA) framework would allow cryptocurrency companies to offer financial services and vice versa.
