The Stuttgart Stock Exchange obtains a crypto-currency license

Blocknoxa subsidiary of Boerse Stuttgart Digitalhas obtained a license from crypto depositary with the BaFin.

The German stock exchange announced Thursday that the unit Blocknox of its crypto branch Boerse Stuttgart Digital had got his hands on a final license” for its commercial activities as a cryptocurrency custodian.

This is the first time that an established market player is allowed to hold crypto-currencies in custody without any acquisition. This complements the unique infrastructure we offer: of all the traditional service providers operating in the European crypto market, we are now the only fully BaFin-regulated window in Germany for brokering, trading and custody of digital assets,” trumpeted Matthias Voelkel, CEO of Boerse Stuttgart.

Founded in 2017, Boerse Stuttgart Digital today serves banks, brokers, asset managers and family offices in Europe as well as individual investors with its exchange BSDEX and its mobile application Bison. Blocknox, launched as a crypto custodian in 2019, holds digital coins transiting both services.

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The license of the BaFin reinforces our goal of providing financial institutions across Europe with secure access to the growing market for digital assets,” said Oliver Vins, managing director of Boerse Stuttgart Digital and Blocknox.

At the end of 2022, Germany’s financial watchdog said that comprehensive regulation of the crypto industry was needed. “We have seen the world self-regulated. This will not work,” argued the BaFin.

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