Boerse Stuttgart Digital secures BaFin authorization for crypto custody

Rick Steves

“This is the first time that an established market participant has been licensed to hold cryptocurrencies in custody without any acquisitions. This completes the unique infrastructure we offer: of all the traditional service providers operating in the European crypto market, we are now the only one-stop-shop that’s fully regulated by BaFin in Germany for brokerage, trading, and custody of digital assets. For banks, brokers, asset managers, and family offices, this makes us the infrastructure partner of choice.”

Boerse Stuttgart Group has become a fully regulated one-stop shop for digital assets, with integrated brokerage, trading, and custody services for institutional clients.

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).

Crypto solutions for European banks, brokers, asset managers

Boerse Stuttgart Group uses the Boerse Stuttgart Digital brand to bundle all its cryptocurrency and digital asset activities and offer institutional partners simple solutions for accessing and trading cryptocurrencies, along with fiduciary custody – all from a single source and with the highest security standards.

Its digital asset services are catered to European banks, brokers, asset managers, and family offices that can use these trading and custody solutions for their own digital asset offerings.

Following the January 1st, 2020 legal regulation of crypto custody in Germany, specific authorization is required for the custody of crypto assets. Having applied for this authorization in due time, blocknox had been granted the provisional status of a regulated financial services provider.

Boerse Stuttgart Digital’s services are now used by “a large six-digit number of retail customers”, the firm said, highlighting its “excellent liquidity, effective risk management, and high resilience along the entire value chain”.

“Only one-stop-shop that’s fully regulated by BaFin”

Matthias Voelkel, CEO of Boerse Stuttgart Group, said: “This is the first time that an established market participant has been licensed to hold cryptocurrencies in custody without any acquisitions. This completes the unique infrastructure we offer: of all the traditional service providers operating in the European crypto market, we are now the only one-stop-shop that’s fully regulated by BaFin in Germany for brokerage, trading, and custody of digital assets. For banks, brokers, asset managers, and family offices, this makes us the infrastructure partner of choice.”

Oliver Vins, Managing Director of Boerse Stuttgart Digital and of the custodian blocknox, commented: “Reliability, stability, and transparency form the basis for well-functioning crypto markets. The BaFin license reinforces us on our path to provide financial institutions across Europe with secure access to a growing market for digital assets using these core principles.”

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