Dutch exchange Bitvavo taps Figment to expand staking services

Update (May 1 at 15h00 UTC): This article has been updated to include more information about Fayment's partnership with Bitvavo.

Dutch cryptocurrency exchange Bitvavo will deploy Fiment's institutional-grade infrastructure into its staking platform to share various tokens on behalf of its users.

In the year In 2021, Fayment, which has attracted major investments from the likes of Galaxy Digital, has announced that it will provide major infrastructure to the Dutch exchange. Bitvavo covers user assets on multiple proof-of-stake protocols, including Ethereum, Solana, and NEAR.

Bitvavo CEO and Co-Founder Mark Nouvelstijn's statement highlighted the exchange's efforts to review and improve its products and services. The company also confirmed that Fiment is expanding and expanding pool staking service providers that include Coinbase, Copper and Kiln.

Nuvelstijn added that staking has become a part of the cryptocurrency industry and supply is an important service in its customer base of more than 1.5 million users in the Benelux region.

Bitvavo's CEO said working with Fiment will allow the exchange to provide more safety and security and expand its offerings.

“Fiment is one of the infrastructure leaders in the market, and we continue to be impressed by their cutting-edge market knowledge.”

The two teams have been working together for six months with the aim of leading a share of the exchange across Europe, said Eva Lawrence, head of Fiment EMEA.

The partnership is set to earn equity rewards on Bitvavo's newly launched networks. Fayment is establishing dedicated authentication nodes for Bitvavo to provide high-quality network performance and security.

The Dutch exchange continues its relentless approach to expand its footprint in Europe. In the year In November 2023, it announced the launch of services to French users as a digital asset service provider after successfully registering with France's Autorite de Marches Financiers (AMF).

The expansion into France is due to Bitvavo's regulatory approval to offer its services in Austria. The exchange has expanded its offering to Italy in 2022 and has filed listing applications for other major European markets.

Nuvelstijn previously spoke exclusively to Cointelegraph during the October 2023 European Blockchain Convention in Barcelona, ​​highlighting his belief that the European Markets in Crypto Assets (MiCA) framework will allow cryptocurrency companies to offer financial services and vice versa.

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