Stuttgart Stock Exchange Unit Secures BaFin License for Crypto Custody
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Blocknox, a part of Boerse Stuttgart’s digital unit, has received the final license as a crypto custodian from the country’s financial regulator, BaFin.
The license means Boerse Stuttgart Digital will be able to provide institutional investors with services for trading crypto as well as fiduciary custody, Germany’s second-largest stock exchange said in an email Thursday. Among the institutions it expects to make use of the offering are banks, brokers, asset managers and family offices.
BaFin licensing will allow the exchange to offer a “one-stop shop that’s fully regulated in Germany for brokerage, trading and custody of digital assets,” CEO Matthias Voelkel said in the email.
Boerse Stuttgart, which is the sixth-largest stock exchange in Europe and ranks behind the Frankfurt exchange in Germany, has been venturing into crypto services for several years. It unveiled a crypto trading app in 2018, reporting that it reached trading volume of over $1 billion in 2020.
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Jamie Crawley is a CoinDesk news reporter based in London.
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Jamie Crawley is a CoinDesk news reporter based in London.
