On Wednesday, May 1st, Bitvavo, a cryptocurrency exchange, collaborated with Figment, an infrastructure provider for staking. This partnership aims to boost efficiency and increase cryptocurrency staking offerings.
Figment will provide Bitvavo users with staking infrastructure, enabling them to earn staking incentives. The security of Figment’s infrastructure is one of the key priorities, and the organization actively maintains various certifications issued by organizations like SOC 2 Type I and ISO 27001.
As a result, this cooperation confirms Bitvavo’s staking service suite that it used to provide based on Coinbase, Copper, and Kiln. Bitvavo CEO Mark Nuvelstijn points out that staking has started to take up a more significant role in the exchange business and is proud to announce that Figment will greatly enhance the current security arrangements.
Alongside the staking partnership, the news is also focused on Bitvavo’s multinational expansion in Europe. Making use of Europe’s changing regulatory environment, and especially the prospect of MiCA regulation, the market is currently becoming a hotbed for various cryptocurrency trading activities.
MiCA defines the registration and licensing procedures that contribute to the security of investors, and thus, the whole of Europe becomes a good destination for crypto companies. Bitvavo has already received regulatory approval in France and Austria, respectively, and a process of further regulatory certifications for key European markets is ongoing.
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