Economy 01-05-2024 22:09 15 Views

Bitvavo Partners with Figment to Offer Staking Services for Multiple Tokens to Users

Bitvavo, the Amsterdam-based cryptocurrency exchange known as the largest EUR spot exchange globally, announced a strategic collaboration with Figment on May 1, a leading provider of staking infrastructure. The partnership sees Bitvavo leveraging Figment’s institutional-grade infrastructure to power its staking services.

By combining their expertise and resources, both entities seek to enable new features and enhance the overall user experience. With Bitvavo’s expansive reach and Figment’s proven track record in staking infrastructure, the collaboration is poised to reshape the landscape of staking services in Europe.

Bitvavo Partners with Figment to Enhance Staking Services Across Multiple Networks

According to the announcement,  Figment, which received sizeable investments from industry giants like Galaxy Digital in 2021, revealed that it would furnish staking infrastructure for the Dutch exchange. Bitvavo will utilize Figment’s infrastructure to offer staking services across multiple networks, including Ethereum (ETH), Solana (SOL), and NEAR, among others. 

As a prominent cryptocurrency exchange in Europe with access to over 250 crypto assets and approximately 1.5 million users, Bitvavo stands out as a market leader. The exchange is registered with the Dutch Central Bank, offering a secure trading environment with robust regulatory oversight.

Key features of the protocol staking service offered through Bitvavo and Figment include access to staking rewards on newly launched networks, dedicated validator nodes to ensure enhanced network performance and security, and advanced reporting capabilities for oversight and transparency.

Figment is pleased to announce our collaboration with @bitvavocom, one of the leading digital assets exchanges in Europe.

Bitvavo’s staking services for ETH, SOL, and NEAR are now powered by Figment’s robust staking infrastructure.

Read the full announcement now:…

— Figment (@Figment_io) May 1, 2024

Clients of Bitvavo will benefit from Figment’s engineering and protocol expertise, earning consistent staking rewards through Figment’s “Safety Over Liveness” approach. Figment’s best-in-class staking infrastructure is backed by certifications such as SOC 2 Type I and ISO 27001, providing further peace of mind through robust risk and slashing coverage.

Mark Nuvelstijn, CEO of Bitvavo, expressed the exchange’s commitment to continuous improvement, stating, “We see staking as an integral part of the crypto industry and are happy to continue offering this service to our customers with Figment as one of our valued and trusted partners.”

He affirmed that Figment’s involvement represents an expansion and diversification of Bitvavo’s pool of staking service providers, which already includes Coinbase, Copper, and Kiln. Nuvelstijn emphasized the growing significance of staking within the cryptocurrency industry, noting that it has become an essential service for Bitvavo’s extensive customer base, which comprises over 1.5 million users across the Benelux region.

According to Nuvelstijn, collaborating with Figment enables Bitvavo to offer additional security and safety around staking while expanding its service offerings. He praised Figment as one of the leaders in staking infrastructure, commending their expertise and up-to-date market knowledge.

Eva Lawrence, Head of EMEA at Figment, echoed Nuvelstijn’s sentiments, expressing enthusiasm about complementing Bitvavo’s staking service with Figment’s infrastructure

“We have been extremely impressed with their speed and innovation around new network offerings,” said Lawrence

Bitvavo Expands Strategic Presence in Europe, Targeting Favorable Regulatory Environment for Crypto Adoption

Bitvavo has been executing a strategic expansion plan across Europe, capitalizing on the continent’s increasingly favorable regulatory landscape. With the implementation of the Markets in Crypto Assets (MiCA) regulation, Europe has become an attractive destination for global investors, offering streamlined licensing procedures and enhanced stakeholder protection.

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 successful entry into the Austrian market, further solidifying its foothold in Europe. Building on its momentum, Bitvavo previously introduced its services in Italy in 2022 and is actively pursuing registration applications in other key European markets.

Mark Nuvelstigen expressed confidence in Europe’s potential to drive global crypto adoption, citing the region’s unified licensing framework. Under this framework, obtaining a single permit allows exchanges to operate seamlessly across multiple European countries, streamlining regulatory compliance.

Nuvelstigen emphasized the strategic significance of the French market, highlighting recent studies indicating a growing interest in digital assets among French citizens. According to a recent survey, crypto assets constitute 9% of investment portfolios in France, making it the second most popular asset class in the country. 

The post Bitvavo Partners with Figment to Offer Staking Services for Multiple Tokens to Users appeared first on Cryptonews.

Other news