Dutch cryptocurrency exchange Bitvavo (website) has received authorization from Austria’s Financial Market Authority (FMA) to operate as a Virtual-Asset-Service-Provider. This allows Bitvavo to offer crypto products and services in Austria, expanding its operations beyond the Benelux countries. Registered with the Dutch Central Bank (DNB), the crypto exchange, established in 2018, boasts around 1.5 million customers.
The Austrian approval marks a significant step in Bitvavo‘s strategic European expansion plans. Founder and CEO Mark Nuvelstijn expressed ambition for Bitvavo to become the leading regulated crypto exchange in Europe, highlighting the DACH region’s importance.
Bitvavo‘s success in the Benelux region, driven by features like a user-friendly platform, over 200 cryptocurrencies, and low transaction fees, is expected to appeal to the Austrian market. After receiving approval in Italy last year, Bitvavo has applied for licenses in other markets, including a pending application with Germany’s Financial Supervisory Authority BaFin for 2024.
A 2023 survey revealed Bitvavo as the top-rated Dutch cryptocurrency exchange, used by nearly half of the country’s crypto owners. Nuvelstijn emphasized Bitvavo‘s commitment to staying at the forefront of regulatory developments in Europe.
