Bitvavo, the largest EUR spot exchange in the world based in Amsterdam, recently announced a strategic collaboration with Figment, a leading provider of staking infrastructure, on May 1. This partnership aims to enhance Bitvavo’s staking services by leveraging Figment’s institutional-grade infrastructure. By combining their expertise and resources, the collaboration between Bitvavo and Figment seeks to enable new features and improve the overall user experience. With Figment’s proven track record in staking infrastructure and Bitvavo’s expansive reach with over 1.5 million users and access to over 250 crypto assets, the collaboration is expected to reshape the landscape of staking services in Europe.
Figment, a company that received investments from industry giants like Galaxy Digital in 2021, will be providing staking infrastructure to Bitvavo for networks such as Ethereum (ETH), Solana (SOL), and NEAR. Key features of the staking service offered through Bitvavo and Figment include access to staking rewards on newly launched networks, dedicated validator nodes for enhanced network performance and security, and advanced reporting capabilities for transparency. Clients of Bitvavo will benefit from Figment’s engineering and protocol expertise, earning consistent staking rewards through Figment’s “Safety Over Liveness” approach, backed by certifications like SOC 2 Type I and ISO 27001 for additional security.
Mark Nuvelstijn, CEO of Bitvavo, emphasized the importance of staking services within the cryptocurrency industry and the commitment to offering this service with trusted partners like Figment. Collaborating with Figment allows Bitvavo to provide additional security and safety around staking while expanding its service offerings to meet the needs of its extensive customer base. Nuvelstijn praised Figment as a leader in staking infrastructure and highlighted their expertise and market knowledge. Eva Lawrence, Head of EMEA at Figment, also expressed enthusiasm about complementing Bitvavo’s staking service with Figment’s infrastructure and commended Bitvavo for their speed and innovation.
Bitvavo has been strategically expanding its presence in Europe by targeting favorable regulatory environments for crypto adoption. With the implementation of the Markets in Crypto Assets (MiCA) regulation in Europe, the continent has become an attractive destination for global investors, offering streamlined licensing procedures and enhanced stakeholder protection. Bitvavo secured regulatory approval from France’s Autorité des Marchés Financiers in November 2023, allowing the exchange to launch its services for French users. The company has also entered the Austrian and Italian markets and is actively pursuing registration applications in other key European countries.
Mark Nuvelstigen highlighted the potential of Europe to drive global crypto adoption due to the region’s unified licensing framework, allowing exchanges to operate seamlessly across multiple European countries. The French market, in particular, is of strategic significance to Bitvavo, with recent studies showing a growing interest in digital assets among French citizens. Crypto assets constitute 9% of investment portfolios in France, making it the second most popular asset class in the country. With its continued expansion in Europe and collaborations with leading providers like Figment, Bitvavo is well-positioned to capitalize on the growing market demand for cryptocurrency services in the region.
