German Stock Exchange Boerse Stuttgart to Provide Crypto Custody Through Licensed Subsidiary

0 4

German Stock Exchange Boerse Stuttgart to Provide Crypto Custody Through Licensed Subsidiary

knife

Blocknox, a subsidiary of one of Europe’s largest stock exchanges, Boerse Stuttgart, has been licensed to operate as a crypto custodian in Germany. The authorization will allow the company to offer custody services for digital assets to institutional investors across the Old Continent.

Boerse Stuttgart Subsidiary Blocknox to Offer Crypto Custody Services Under Bafin License

Germany’s second-largest stock exchange and one of the largest in Europe, Boerse Stuttgart, will be able to provide European banks, brokers, asset managers, and family offices with both trading and custody solutions for their crypto asset offerings.

Its subsidiary, Blocknox, which is part of the Boerse Stuttgart Digital division, has received the final license for its operations as a crypto custodian from the Bundesrepublik’s Federal Financial Supervisory Authority (Bafin), a press release revealed.

Boerse Stuttgart Digital is the stock market’s brand for all activities in the field of cryptocurrencies. Through the unit, Boerse Stuttgart Group is able to offer institutional partners various solutions for accessing, trading as well as keeping cryptocurrencies on behalf of clients. The exchange noted:

A high six-digit number of end customers are already benefiting from excellent liquidity today.

According to Matthias Voelkel, CEO of Boerse Stuttgart Group, the license allows the company to become a fully regulated, one-stop shop for brokerage, trading and custody of digital assets. “This makes us the infrastructure partner of choice for banks, brokers, asset managers and family offices,” he elaborated.

Reliability, stability and transparency form the basis for functioning crypto markets, added Oliver Vins, managing director of Boerse Stuttgart Digital and Blocknox. He believes that the Bafin license asserts Boerse Stuttgart’s role as a provider of secure access to the growing market for digital assets.

Crypto custody services were legalized in Germany in January 2020. Companies that want to provide them are required to obtain a special permit. In February of that year, Boerse Stuttgart announced that Blocknox intends to offer such services to institutional clients. The subsidiary applied for regulatory approval and was initially granted the provisional status of a regulated financial service provider.

Do you think Germany will continue to issue licenses to crypto custodians? Tell us in the comments section below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 26,160.01
ethereum
Ethereum (ETH) $ 1,587.25
tether
Tether (USDT) $ 0.99987
bnb
BNB (BNB) $ 211.44
xrp
XRP (XRP) $ 0.501575
usd-coin
USDC (USDC) $ 0.999611
staked-ether
Lido Staked Ether (STETH) $ 1,586.44
cardano
Cardano (ADA) $ 0.244374
dogecoin
Dogecoin (DOGE) $ 0.060349
solana
Solana (SOL) $ 19.18
tron
TRON (TRX) $ 0.084445
the-open-network
Toncoin (TON) $ 2.11
polkadot
Polkadot (DOT) $ 4.00
matic-network
Polygon (MATIC) $ 0.512429
litecoin
Litecoin (LTC) $ 63.66
shiba-inu
Shiba Inu (SHIB) $ 0.000007
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 26,154.01
bitcoin-cash
Bitcoin Cash (BCH) $ 213.84
chainlink
Chainlink (LINK) $ 7.37
dai
Dai (DAI) $ 0.999367
true-usd
TrueUSD (TUSD) $ 0.998092
leo-token
LEO Token (LEO) $ 3.66
uniswap
Uniswap (UNI) $ 4.23
avalanche-2
Avalanche (AVAX) $ 8.95
stellar
Stellar (XLM) $ 0.111842
monero
Monero (XMR) $ 144.18
okb
OKB (OKB) $ 42.98
binance-usd
BUSD (BUSD) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 15.06
cosmos
Cosmos Hub (ATOM) $ 6.97
hedera-hashgraph
Hedera (HBAR) $ 0.049367
filecoin
Filecoin (FIL) $ 3.17
crypto-com-chain
Cronos (CRO) $ 0.050158
internet-computer
Internet Computer (ICP) $ 2.96
lido-dao
Lido DAO (LDO) $ 1.45
maker
Maker (MKR) $ 1,413.75
mantle
Mantle (MNT) $ 0.389803
aptos
Aptos (APT) $ 5.32
quant-network
Quant (QNT) $ 85.81
vechain
VeChain (VET) $ 0.016548
arbitrum
Arbitrum (ARB) $ 0.820666
near
NEAR Protocol (NEAR) $ 1.08
optimism
Optimism (OP) $ 1.27
kaspa
Kaspa (KAS) $ 0.046363
rocket-pool-eth
Rocket Pool ETH (RETH) $ 1,721.60
aave
Aave (AAVE) $ 60.91
the-graph
The Graph (GRT) $ 0.087115
algorand
Algorand (ALGO) $ 0.096161
whitebit
WhiteBIT Coin (WBT) $ 5.21
usdd
USDD (USDD) $ 0.997585
immutable-x
ImmutableX (IMX) $ 0.586108
xdce-crowd-sale
XDC Network (XDC) $ 0.048673
frax
Frax (FRAX) $ 0.997727
blockstack
Stacks (STX) $ 0.457979
havven
Synthetix Network (SNX) $ 1.99
theta-token
Theta Network (THETA) $ 0.639618
elrond-erd-2
MultiversX (EGLD) $ 24.46
radix
Radix (XRD) $ 0.061417
eos
EOS (EOS) $ 0.560042
bitget-token
Bitget Token (BGB) $ 0.447398
the-sandbox
The Sandbox (SAND) $ 0.301217
tezos
Tezos (XTZ) $ 0.653833
injective-protocol
Injective (INJ) $ 7.09
bitcoin-sv
Bitcoin SV (BSV) $ 30.77
axie-infinity
Axie Infinity (AXS) $ 4.50
render-token
Render (RNDR) $ 1.48
decentraland
Decentraland (MANA) $ 0.297338
gatechain-token
Gate (GT) $ 3.86
fantom
Fantom (FTM) $ 0.187924
thorchain
THORChain (RUNE) $ 1.73
neo
NEO (NEO) $ 7.21
kava
Kava (KAVA) $ 0.626015
paxos-standard
Pax Dollar (USDP) $ 0.999177
pax-gold
PAX Gold (PAXG) $ 1,898.47
tether-gold
Tether Gold (XAUT) $ 1,903.26
ecash
eCash (XEC) $ 0.000024
flow
Flow (FLOW) $ 0.441667
curve-dao-token
Curve DAO (CRV) $ 0.518166
compound-ether
cETH (CETH) $ 31.88
frax-share
Frax Share (FXS) $ 5.89
kucoin-shares
KuCoin (KCS) $ 4.41
rocket-pool
Rocket Pool (RPL) $ 21.58
frax-ether
Frax Ether (FRXETH) $ 1,583.80
iota
IOTA (MIOTA) $ 0.148172
apecoin
ApeCoin (APE) $ 1.11
chiliz
Chiliz (CHZ) $ 0.057549
huobi-token
Huobi (HT) $ 2.42
first-digital-usd
First Digital USD (FDUSD) $ 0.999362
tokenize-xchange
Tokenize Xchange (TKX) $ 4.74
bittorrent
BitTorrent (BTT) $ 0.00000038270254
mina-protocol
Mina Protocol (MINA) $ 0.370218
klay-token
Klaytn (KLAY) $ 0.112589
terra-luna
Terra Luna Classic (LUNC) $ 0.000061
casper-network
Casper Network (CSPR) $ 0.031326
gala
GALA (GALA) $ 0.013312
sui
Sui (SUI) $ 0.440267
rollbit-coin
Rollbit Coin (RLB) $ 0.104085
dydx
dYdX (DYDX) $ 1.87
coinbase-wrapped-staked-eth
Coinbase Wrapped Staked ETH (CBETH) $ 1,663.29
nexo
NEXO (NEXO) $ 0.575822