Boerse Stuttgart Digital ends year with 890,000 retail customers in Europe

Rick Steves

“We bundled our digital business under the roof of Boerse Stuttgart Digital, with comprehensive solutions for institutional partners. We were also able to increase the number of our retail customers in crypto trading and the volume of cryptocurrencies we hold in custody significantly. We successfully entered the Italian market. Overall, 2023 clearly demonstrated the strength of our broad positioning as a European exchange group.”

In the face of a challenging market environment, Boerse Stuttgart Group, ranked as the sixth-largest exchange group in Europe, showcased robust performance and sustained structural growth in both capital markets and digital enterprises, the company announced.

Matthias Voelkel, CEO of Boerse Stuttgart Group, highlighted the success of the year: “In securities trading, our broker EUWAX AG delivered an excellent performance as a liquidity provider. On our exchanges in Germany, Sweden, and Switzerland, we achieved a total trading volume on the level of the previous year. We further expanded our zero-fee offerings in Germany and Switzerland. Leonteq became a strategic partner of our Swiss exchange BX Swiss. Our Swedish exchange NGM recorded four new listings of growth companies.

“We bundled our digital business under the roof of Boerse Stuttgart Digital, with comprehensive solutions for institutional partners. We were also able to increase the number of our retail customers in crypto trading and the volume of cryptocurrencies we hold in custody significantly. We successfully entered the Italian market. Overall, 2023 clearly demonstrated the strength of our broad positioning as a European exchange group.”

Boerse Stuttgart Digital Custody holds around EUR 2 billion

A pivotal development in 2023 was the consolidation of digital business under Boerse Stuttgart Digital, positioning itself as a comprehensive infrastructure partner for financial institutions in Europe. Boerse Stuttgart Digital not only saw an uptick in retail customers engaged in crypto trading but also witnessed a substantial increase in the volume of cryptocurrencies held in custody.

The digital asset division solidified its offerings, encompassing brokerage, trading, and custody solutions. It emerged as a reliable infrastructure partner for financial institutions dealing with cryptocurrencies and digital assets. Boerse Stuttgart Digital’s commitment to full regulation was underscored by obtaining the crypto custody license in Germany and successful registration in Italy in 2023.

Despite the persistent challenges in the crypto market, Boerse Stuttgart Digital reported substantial growth. The infrastructure now serves approximately 890,000 retail customers in Europe, reflecting a 10 percent increase in 2023. Boerse Stuttgart Digital Custody holds a significant volume of cryptocurrencies, amounting to around EUR 2 billion, and expanded its cryptocurrency offerings to 27 for both retail customers and institutional partners.

As for the Group’s exchanges in Germany, Sweden, and Switzerland collectively anticipated a total turnover of approximately EUR 100 billion by the end of 2023, a remarkable feat in the challenging market conditions. The German exchange in Stuttgart alone accounted for around EUR 90 billion, maintaining its trading volume at par with the previous year.

Joaquín Sastre appointed Chief Revenue Officer

Yesterday, the company announced Joaquín Sastre is set to join Boerse Stuttgart Digital as Chief Revenue Officer, effective from January 1, 2024. At the age of 32, Sastre Ibáñez brings a wealth of experience to his new role, where he will spearhead the oversight of institutional business, strategic partnerships, and sales activities for Boerse Stuttgart Digital.

Formerly the Managing Director at global digital asset service provider BitGo, Sastre played a pivotal role in the operational expansion of the business across Europe, the Middle East, Africa, and Latin America.

Notably, his contributions were instrumental in achieving key funding milestones for BitGo. Prior to his role at BitGo, Sastre initiated his career in the digital asset space in 2017 at XAPO, where he played a crucial role in establishing a regulated institutional crypto custodian and an over-the-counter (OTC) trading services provider.

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