BaFin awards license for crypto custody business to Stuttgart Stock Exchange Digital
Marc Nemitz
| 30.03.2023
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). Institutional customers are thus provided with brokerage, trading and custody from a single source.
The granting of the license currently makes Boerse Stuttgart Digital the only fully regulated one-stop store for digital assets among many established market participants. This means that institutional partners can be offered simple solutions for access and trading as well as fiduciary custody of cryptocurrencies with the highest security standards.
It is the first time that an established market participant has been licensed to hold cryptocurrencies without acquisitions. This completes our unique infrastructure offering. For banks, brokers, asset managers and family offices, this makes us the infrastructure partner of choice.
Dr. Matthias Voelkel, CEO of Boerse Stuttgart Group
Since January 1, 2020, a new legal regulation of the crypto business in Germany requires a special authorization for the custody of crypto securities. A timely application was made by blocknox, which had the previous provisional status of a regulated financial services provider.
"The basis for functioning crypto markets is reliability, stability and transparency. The BaFin license confirms us on our path to provide financial institutions across Europe with secure access to the growth market for digital assets with these core principles.
Dr. Oliver Vins, Managing Director of Boerse Stuttgart Digital and the custodian blocknox
Boerse Stuttgart Group
Boerse Stuttgart Group is the sixth largest exchange group in Europe with strategic pillars in the capital markets business as well as in the digital and crypto business. It operates exchanges in Germany, Sweden and Switzerland. Boerse Stuttgart Group employs more than 700 people at locations in Stuttgart, Berlin, Vienna, Stockholm, Zurich and Ljubljana.
Newsletter
Startups, stories and stats from the German startup ecosystem straight to your inbox. Subscribe with 2 clicks. Noice.
LinkedIn ConnectTake care, give care
Did this news inform or entertain you? Then we would be happy if you tell your network about it.
Share on Linkedin Share on Facebook Share on XingFYI: English edition available
Hello my friend, have you been stranded on the German edition of Startbase? At least your browser tells us, that you do not speak German - so maybe you would like to switch to the English edition instead?
FYI: Deutsche Edition verfügbar
Hallo mein Freund, du befindest dich auf der Englischen Edition der Startbase und laut deinem Browser sprichst du eigentlich auch Deutsch. Magst du die Sprache wechseln?
