The license of the German Federal Financial Supervisory Authority (BaFin) now authorizes Boerse Stuttgart Digital to provide services for the storage, trading and management of cryptocurrency assets.
“Germany is a one-stop market for brokerage, trading and custody of digital assets, fully regulated by BaFin. This makes us the preferred infrastructure partner for banks, brokers, management companies and family offices,” said Boerse Stuttgart Group CEO Matthias Voelkel.
The license will allow Blocknox to offer customers “a fully compliant German law universal platform for trading, storing digital assets and receiving brokerage services,” the businessman assured.
In 2020, Blocknox began providing cryptocurrency custody services for institutional investors. The subsidiary of the stock exchange has since been able to provide custody of cryptoassets under “deposit conditions”. The company has made the service available to users of the Stuttgart Stock Exchange’s BISON app and its BSDEX digital asset exchange.
Earlier in March, German securities processing giant Deutsche Wertpapier Service Bank AG (dwpbank), which manages 5.3 million customer accounts at various banks, launched the wpNex platform for bitcoin trading.
Source: Bits
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