New player on the Dutch crypto market: Finst

Last Updated: 9 January 2023

The Netherlands has gained a new crypto platform. With Finst, former employees of DEGIRO are looking to make a move into the industry. The company registered with De Nederlandsche Bank (DNB) as a Crypto Serivce Provider.

The goal seems clear: compete for Dutch customers. DEGIRO is a popular online broker where you can invest in financial products such as stocks and related products in various ways. This is a service where you cannot withdraw bitcoin yourself. Withdrawals and deposits are therefore ‘just’ done with the euro.

Finst aims to appeal to the retail market: “The idea behind the new cryptocurrency platform is to bridge the gap between retail and professional investors by offering maximum security and transparency at low fees (the lowest transaction fees in the Netherlands). To offer customers maximum security, Finst works with the world’s leading wallet management provider, Fireblocks. In addition, all customers’ money is held at Dutch bank bunq.”

In the so-called crypto register of regulator DNB, you will find several names. Companies in the Netherlands must work their way through this inspection before they are allowed to offer services related to bitcoin. Foreign parties like Coinbase are on the list, as are all local brokers and exchanges.

Parties like Binance are missing from the list, even though they offer services to Dutch citizens. Parties like Finst have to compete with them.

  • Ivan Brightly

    Ivan Brightly is a leading cryptocurrency analyst and author with over 5 years of experience in the blockchain and digital asset space. He previously served as a senior analyst at a major cryptocurrency hedge fund where he led quantitative research and trading strategy development.

    Ivan holds a Master's degree in Finance from the London School of Economics and a Bachelor's in Computer Science from Stanford University. He is frequently invited to speak at fintech and blockchain conferences worldwide on topics spanning cryptocurrency trading, blockchain technology, and the future of digital assets.

    Ivan's commentary has been featured in several major finance and technology publications including Forbes, Bloomberg, and CoinDesk. He is considered one of the most insightful voices analyzing new developments in the cryptocurrency and blockchain industry.

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