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’s users. Figment, which received significant investments from Galaxy Digital in 2021, will offer staking infrastructure to the Dutch exchange, enabling it to stake user assets across multiple proof-of-stake protocols such as Ethereum, Solana, and Near.
Mark Nuvelstijn, CEO and co-founder of Bitvavo, emphasized the exchange’s commitment to improving its products and services. He stated that Figment is an expansion and diversification of Bitvavo’s pool staking service providers, which already include Coinbase, Copper, and Kiln. Nuvelstijn acknowledged the growing importance of staking in the cryptocurrency industry and highlighted that it is an essential service for Bitvavo’s customer base of over 1.5 million users in the Benelux region. He expressed that partnering with Figment will enhance the security and safety of their staking services and expand their 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 lead the development of Bitvavo’s staking services across Europe. This partnership will enable Bitvavo users to access staking rewards on 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 2023, the exchange launched its services in France after obtaining registration as a digital asset service provider from France’s Autorité des Marchés Financiers. Prior to that, Bitvavo received regulatory approval to offer its services in Austria and expanded to Italy in 2022. The exchange has also filed registration applications for other major European markets.
In a previous interview with Cointelegraph during the European Blockchain Convention in October 2023, Nuvelstijn expressed his belief that the Markets in Crypto-Assets framework in Europe will enable cryptocurrency companies to provide financial services and vice versa.
Magazine: 68% of Runes are in the red — Are they really an upgrade for Bitcoin?