BaFin grants license for crypto custody business to Börse Stuttgart Digital

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). This enables institutional clients to obtain brokerage, trading and custody services from a single source.

With the granting of the license, Boerse Stuttgart Digital is currently 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.

This is the first time that an established market participant has been granted a license to hold cryptocurrencies in custody without any acquisitions. This completes our unique infrastructure offering. This makes us the infrastructure partner of choice for banks, brokers, asset managers and family offices.

Dr. Matthias Voelkel, CEO of the Boerse Stuttgart Group

Since January 1, 2020, a new legal regulation of the crypto business in Germany has required a special license for the custody of crypto assets. An application was submitted on time by blocknox, which previously had the provisional status of a regulated financial services provider.

"The basis for functioning crypto markets is reliability, stability and transparency. The BaFin license confirms that we are on the right path to providing financial institutions throughout Europe with secure access to the growth market for digital assets based on 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 market business as well as in the digital and crypto business. It operates stock exchanges in Germany, Sweden and Switzerland. Boerse Stuttgart Group employs more than 700 people at locations in Stuttgart, Berlin, Vienna, Stockholm, Zurich and Ljubljana.