Germany: Boerse Stuttgart Digital Licensed by BaFin for Crypto Custody Business

As part of Boerse Stuttgart Digital, blocknox GmbH has received the final license for its business operations as a crypto custodian from the German Federal Financial Supervisory Authority (BaFin).

Under the brand Boerse Stuttgart Digital, Boerse Stuttgart Group has “bundled all its cryptocurrency and digital asset activities.” Boerse Stuttgart Digital “offers institutional partners simple solutions for accessing and trading cryptocurrencies, along with fiduciary custody – all from a single source and with the highest security standards.”

European banks, brokers, asset managers, and family offices “can use these trading and custody solutions for their own digital asset offerings.”

Today, a relatively large six-digit number of retail customers already “benefit from excellent liquidity, effective risk management, and high resilience along the entire value chain.”

Dr. Matthias Voelkel, CEO of Boerse Stuttgart Group states:

“This is the first time that an established market participant has been licensed to hold cryptocurrencies in custody without any acquisitions. This completes the unique infrastructure we offer: of all the traditional service providers operating in the European crypto market, we are now the only one-stop-shop that’s fully regulated by BaFin in Germany for brokerage, trading, and custody of digital assets. For banks, brokers, asset managers, and family offices, this makes us the infrastructure partner of choice.”

Dr. Oliver Vins, Managing Director of Boerse Stuttgart Digital and of the custodian blocknox, adds:

“Reliability, stability, and transparency form the basis for well-functioning crypto markets. The BaFin license reinforces us on our path to provide financial institutions across Europe with secure access to a growing market for digital assets using these core principles.”

Following the January 1st, 2020 legal regulation of crypto custody in Germany, specific authorization is “required for the custody of crypto assets.”

Having applied for this authorization in due time, blocknox had “been granted the provisional status of a regulated financial services provider.”

As noted in the update, Boerse Stuttgart Group is “the sixth largest exchange group in Europe with strategic pillars in the capital markets business and in the digital and crypto business.”

It operates exchanges in Germany, Sweden, and Switzerland, and – with Boerse Stuttgart Digital – has “built the largest digital and crypto business of all European exchange groups. Boerse Stuttgart Group has a workforce of 700 and premises in Stuttgart, Berlin, Stockholm, Zurich, and Ljubljana.”



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