Leading financial institutions Virtune and Kvarn Capital have announced a partnership aimed at accelerating crypto adoption across the Nordic region and Europe.
The collaboration seeks to leverage the strengths and expertise of both companies to create a stronger presence in the European crypto landscape, according to a Tuesday press release.
Per the announcement, a key outcome of the partnership is the establishment of the Nordic Crypto Alliance, an initiative focused on promoting crypto awareness, education, and accessibility across Europe.
“We are thrilled to join forces with Kvarn Capital,” said Christopher Kock, CEO and co-founder of Virtune. “Our shared vision is to make crypto assets accessible to a broader audience. Together, we can drive innovation, enhance investor confidence, and foster responsible crypto adoption.”
Virtune and Kvarn Capital Are Regulated Financial Companies
Both Virtune and Kvarn Capital are regulated financial companies within the crypto market, overseen by the Swedish Financial Supervisory Authority (FSA) and the Finnish FSA, respectively.
As part of the partnership, Virtune’s exchange-traded products (ETPs) will be made available for trading to Kvarn Capital’s clients on the brokerage platform, Kvarn X, pending regulatory approval. Conversely, Virtune will promote the Kvarn X platform to individuals interested in trading and staking cryptocurrencies directly.
The collaboration will involve unified marketing strategies to promote the partnership and its unique offerings, with announcements to be made on the respective websites of Virtune and Kvarn Capital.
Joonas Järvinen, CIO and Founding Partner of Kvarn Capital, highlighted the immense potential for crypto growth in the Nordics specifically.
“The Nordic region has immense potential for crypto growth. By collaborating with Virtune, we can create synergies that benefit both our clients and the entire crypto ecosystem,” Järvinen said.
1.5 Million Daily Crypto Traders In Western Europe
As Virtune and Kvarn Capital team up to drive crypto adoption in Northern Europe, it is worth noting that Western Europe has already established itself as a leading region in global crypto adoption.
Recent research conducted by Bitget reveals that the region attracts a significant number of daily traders, ranging from 1.2 million to 1.5 million individuals.
Germany and France are leading the way in crypto activity within Western Europe, while Austria has experienced the most substantial growth, with a remarkable 70% increase in users over the past year.
Germany closely follows with a 69% increase, while other countries in the region show slower growth rates ranging between 15% and 20%.
EXPLORE: A Complete List of Bitcoin-Friendly Countries
One of the factors contributing to Western Europe’s success in crypto adoption is the clarity of compliance regulations.
Countries such as Germany, Switzerland, Belgium, France, Austria, Liechtenstein, Luxembourg, and the Netherlands adhere to the legislative framework established by the European Union for regulating crypto assets.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
