The BaFin license allows the platform to provide institutional investors with services for storing, trading and managing cryptocurrency assets
Blocknox, a company of Boerse Stuttgart Digital, the digital division of the Stuttgart Stock Exchange (Boerse Stuttgart), has received a license to provide services related to cryptocurrencies, the exchange said in a press release .
CEO of the Boerse Stuttgart Group, Dr. Matthias Voelkel “For the first time, a well-known market player has been given permission to keep bitcoins without making any further acquisitions. The completion of our distinctive infrastructure solution makes us the sole traditional provider in the European cryptocurrency market at this time. With BaFin’s comprehensive regulation, Germany is a one-stop shop for brokerage, trading, and custody of digital assets. We become the preferred infrastructure partner for banks, brokers, asset managers, and family offices as a result.”
The license of the German Federal Financial Supervisory Authority (BaFin) allows Boerse Stuttgart Digital to provide institutional investors with services for the storage, trading and management of cryptocurrency assets. The platform expects banks, brokers, management companies and family offices to become its clients.
The BaFin license will allow Blocknox to offer customers “a fully German-compliant one-stop platform for trading, holding digital assets and receiving brokerage services,” said CEO Matthias Volkel.
Dr. Oliver Vins, the custodian blocknox and the managing director of Boerse Stuttgart Digital, continues: “Reliability, stability, and transparency serve as the cornerstones of crypto markets. The BaFin license demonstrates that we are on the right track to giving financial institutions across Europe secure access to the growing market for digital assets.”
One of the largest exchanges in Germany, Boerse Stuttgart, has been engaged in cryptocurrency services for several years. In 2018, the company introduced the Bison crypto trading app. In 2019, the exchange launched the Boerse Stuttgart Digital Exchange (BSDEX), a regulated platform for working with cryptocurrencies. The exchange united all divisions related to digital assets under the Boerse Stuttgart Digital brand.
