Cryptocurrency exchange company Bitvavo has received approval as a Digital Asset Service Provider from the French AMF , to expand its services in the market. Following this announcement, the company is set to continue its plan to expand its crypto exchange tools and solutions across multiple regions in Europe.

With the registration approval as a Digital Asset Service Provider from the French Autorité des marchés financiers, Bitvavo will have the possibility to offer clients and partners in the French market secure and efficient crypto products and tools. At the same time, Bitvavo will take into consideration the application of the European Union’s Markets in Crypto-Assets (MiCA) regulations and requirements, which are expected to take effect in the industry through 2024 and onward. The new laws are considered to be an improvement for the sectors, as businesses need to improve their models and overall services in order to meet the needs of clients and to keep them secure.

In addition, they are set to open up the European market, offering enterprises the possibility to enter a sector without the need for a licence per country. Bitvavo will continue to stay compliant with the regulatory developments of the industry, while also prioritising the process of contributing actively to them in an ever-evolving market. Bitvavo’s recent strategy of development Bitvavo represents a market company in the Benelux, which is registered currently with the Central Bank of the Netherlands, DNB.

Aiming to extend its products and expertise to multiple areas across the European continent, the firm had a couple of partnerships and developments in the last couple of months, covering several different geographic areas around the world. Earlier in November 2023, Bitvavo announced that it received registration approval as a Virtual Asset Service Provider with the Austrian Financial Market Authority (Finanzmarktaufsicht, FMA), which gave the firm the capability to deliver its suite of efficient and safe services to customers and clients in the region of Austria. In addition, the firm was expected to provide its go-to trusted and comprehensive platform for crypto trading and investing as well.

At the beginning of the same month, Bitvavo announced its partnership with Auth0, a firm that provides its customers and users with identity and authentication solutions. Bitvavo was enabled to use Auth0 by Okta for its customer identity and multi-factor authentication services, in order to detect and block any suspicious login activities that took place on its account, keeping clients protected from any potential threads. .