Boerse Stuttgart Digital, a division of Boerse Stuttgart Group that deals with cryptocurrencies and digital assets, has recently obtained the final license from BaFin for its crypto custodian operations. This is an important achievement for the company, as it marks the first time a market participant in Germany has been granted a license to hold cryptocurrencies in custody without any other acquisitions.
Boerse Stuttgart Digital’s crypto trading and custody solutions are designed to help European banks, brokers, asset managers, and family offices in their own digital asset offerings. The company also provides simple and secure access to the cryptocurrency market for its clients.
Boerse Stuttgart Digital’s Unique Infrastructure
Boerse Stuttgart Group CEO Dr. Matthias Voelkel shared his excitement about the license acquisition through a press release. He stated that the license is in line with the company’s distinctive infrastructure, which offers a fully regulated one-stop shop for brokerage, trading, and custody of digital assets in Germany. According to Voelkel, this makes the company an attractive infrastructure partner for institutional partners, banks, brokers, asset managers, and family offices.
Secure and Regulated Market for Cryptocurrencies and Digital Assets
Meanwhile, Boerse Stuttgart Digital Managing Director and blocknox‘s custodian Dr. Oliver Vins emphasized the significance of maintaining dependable, stable, and transparent crypto markets. He stated that acquiring the BaFin license solidifies the company’s dedication to granting financial institutions secure entry to an expanding digital assets market while adhering to the fundamental principles set by regulators throughout Europe.
Boerse Stuttgart Digital’s Institutional and Retail Partners
With the final license for crypto custodian operations, Boerse Stuttgart Digital can now offer institutional partners secure and streamlined solutions for accessing and trading cryptocurrencies. The company’s trading and custody solutions provide the highest security standards, which makes it an attractive partner for European banks, brokers, asset managers, and family offices seeking access to the cryptocurrency market.
Moreover, Boerse Stuttgart Digital has already built a significant customer base of retail customers who benefit from the company’s excellent liquidity, effective risk management, and high resilience along the entire value chain. The latest license acquisition now positions the company to provide them with enhanced access to a secure and regulated market for cryptocurrencies and digital assets.
A Significant Step Forward for the Cryptocurrency and Digital Asset Industry in Germany
The crypto custodian’s latest license acquisition is a significant milestone for the cryptocurrency and digital asset industry in Germany. The company’s infrastructure offers a unique one-stop shop for brokerage, trading, and custody of digital assets, making it an attractive partner for institutional partners seeking secure access to this growing market.
Former Status as a Regulated Financial Services Provider
It’s worth noting that the license acquisition of Boerse Stuttgart Digital is a result of Germany’s January 1st, 2020, legal regulation of crypto custody. The regulation requires specific authorization for the custody of crypto assets, and blocknox had applied for this authorization in due time. In return, the company was granted provisional status as a regulated financial services provider before eventually receiving its final license for crypto custodian operations from BaFin.
Final Thoughts
The milestone of Boerse Stuttgart Digital is expected to attract a wide range of institutional partners seeking secure access to a growing market for cryptocurrencies and digital assets. These can pave the way for wider crypto adoption in Germany. With its commitment to reliability, stability, and transparency, the company is certainly poised to become a major player in the industry, providing a secure and regulated market for digital assets going forward.