Dutch cryptocurrency exchange Bitvavo has formed a partnership with staking platform Figment to utilize its institutional-grade infrastructure for staking various tokens on behalf of Bitvavo users. Figment, which received significant investments from Galaxy Digital in 2021, will provide staking infrastructure for the Dutch exchange across multiple proof-of-stake protocols such as Ethereum, Solana, and NEAR. Bitvavo CEO Mark Nuvelstijn emphasized the exchange’s commitment to reviewing and improving its products and services, stating that staking has become crucial in the cryptocurrency industry and is an essential service for their customer base of over 1.5 million users in the Benelux region. Working with Figment enables Bitvavo to enhance the security and safety of staking and expand its offering. Figment EMEA head Eva Lawrence revealed that the two teams have been collaborating for six months to establish Bitvavo’s staking services in Europe, granting access to staking rewards on newly launched networks. Figment will also set up dedicated validator nodes for Bitvavo to ensure high-quality network performance and security. Previously, Bitvavo used Digital Currency Group for off-chain staking services, but due to systemic failures in the cryptocurrency sector affecting DCG’s repayment abilities, Bitvavo entered negotiations with the company over the repayment of €280 million. Bitvavo’s customers were not impacted by the losses as the exchange assumed the debt and began creditor negotiations with DCG. The exchange has since pursued expansion across Europe, launching in France and receiving regulatory approval to operate in Austria. Bitvavo also plans to enter other major European markets.
Props to Figment EMEA head Eva Lawrence for working closely with Bitvavo to bring staking services to Europe.
I appreciate that Bitvavo took the initiative to enhance their staking services for the benefit of their 1.5 million users.
France and Austria are just the beginning for Bitvavo! I’m excited to see them enter other major European markets.
It’s frustrating to see Bitvavo entering new markets without fully resolving their previous issues.
Wow, this is such an exciting partnership! Bitvavo and Figment joining forces to enhance staking infrastructure for users.
I don’t like the sound of “creditor negotiations” and debt assumed by Bitvavo. It makes me question their financial stability.
The fact that Bitvavo has received regulatory approval to operate in Austria shows their dedication to expansion and growth.
I’m impressed with Bitvavo’s commitment to constantly improving their services. Kudos to CEO Mark Nuvelstijn and the team!
I’m skeptical about Bitvavo’s claims that staking has become crucial and essential. It feels like a marketing ploy.
Bitvavo should have taken more responsibility for their customers’ losses instead of just assuming the debt.
Bitvavo’s dedication to reviewing and improving their products ensures the best experience for their users.
The expansion of Bitvavo’s services across Europe showcases their ambition and determination. Onwards and upwards! 🌟
I’m confident that this collaboration will bring great benefits to both Bitvavo and their 1.5 million users.