Fun

German Stock Exchange Boerse Stuttgart to Provide Crypto Custody Through Licensed Subsidiary

News Feed - 2023-04-02 06:04:47

German Stock Exchange Boerse Stuttgart to Provide Crypto Custody Through Licensed Subsidiary


Blocknox, a subsidiary of one of Europe’s largest stock exchanges, Boerse Stuttgart, has been licensed to operate as a crypto custodian in Germany. The authorization will allow the company to offer custody services for digital assets to institutional investors across the Old Continent. Boerse Stuttgart Subsidiary Blocknox to Offer Crypto Custody Services Under Bafin License


Germany’s second-largest stock exchange and one of the largest in Europe, Boerse Stuttgart, will be able to provide European banks, brokers, asset managers, and family offices with both trading and custody solutions for their crypto asset offerings.


Its subsidiary, Blocknox, which is part of the Boerse Stuttgart Digital division, has received the final license for its operations as a crypto custodian from the Bundesrepublik’s Federal Financial Supervisory Authority (Bafin), a press release revealed.


Boerse Stuttgart Digital is the stock market’s brand for all activities in the field of cryptocurrencies. Through the unit, Boerse Stuttgart Group is able to offer institutional partners various solutions for accessing, trading as well as keeping cryptocurrencies on behalf of clients. The exchange noted: A high six-digit number of end customers are already benefiting from excellent liquidity today.


According to Matthias Voelkel, CEO of Boerse Stuttgart Group, the license allows the company to become a fully regulated, one-stop shop for brokerage, trading and custody of digital assets. “This makes us the infrastructure partner of choice for banks, brokers, asset managers and family offices,” he elaborated.


Reliability, stability and transparency form the basis for functioning crypto markets, added Oliver Vins, managing director of Boerse Stuttgart Digital and Blocknox. He believes that the Bafin license asserts Boerse Stuttgart’s role as a provider of secure access to the growing market for digital assets.


Crypto custody services were legalized in Germany in January 2020. Companies that want to provide them are required to obtain a special permit. In February of that year, Boerse Stuttgart announced that Blocknox intends to offer such services to institutional clients. The subsidiary applied for regulatory approval and was initially granted the provisional status of a regulated financial service provider. Tags in this story Bafin, Blocknox, Boerse Stuttgart, Boerse Stuttgart Digital, Crypto, crypto custodian, crypto-custody, Cryptocurrencies, Cryptocurrency, custodian, custody, Digital Assets, Exchange, german, Germany, License, licensed, stock exchange


Do you think Germany will continue to issue licenses to crypto custodians? Tell us in the comments section below. Lubomir Tassev


Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration. Most Crypto Sent From Wallets Sponsoring Russia in Ukraine War Reaches CEXs, Binance, Research Shows EXCHANGES | 3 days ago Binance Opens Regional Blockchain Hub in Georgia EXCHANGES | 4 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons, Andreas Marquardt / Shutterstock.com Previous articleCrypto ATM Numbers Drop by 13.91% Since December 2022, Over 3,600 Went Offline in March Next articleFormer Treasury Official Issues Dire Warning, Bill Ackman Fears Economic ‘Train Wreck,’ US Gov. Remains Top BTC Holder, and More — Week in Review Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItOman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework


Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)"s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin

News Feed

Stablecoins and Crosschain Loans: 2 Projects Attempt to Bring Defi Solutions to Bitcoin
Stablecoins and Crosschain Loans: 2 Projects Attempt to Bring Defi Solutions to Bitcoin While decentralized finance (defi) solutions have grown popular on the Ethereum blockchain, d
Ethereum Recovers To $2,800 As Exchange Outflows Near $1 Billion
Este artículo también está disponible en español. Ethereum has made a recovery to $2,800 during the past day as on-chain data shows the whales have been making massive wi
Settlements With China — Russia Plans Next Step for Digital Ruble
Settlements With China — Russia Plans Next Step for Digital Ruble Russia intends to use its digital ruble, to be introduced early next year, for payments with its key ally, China
Central Banks of France, Switzerland and BIS Complete Cross-Border CBDC Trial
Central Banks of France, Switzerland and BIS Complete Cross-Border CBDC Trial Bank of France, the Swiss National Bank (SNB), and the Bank for International Settlements have success
Interview With Evan Luza, Cool Cats Co-Founder and Advisor to Bitcoin․com Verse NFT Collection
Interview With Evan Luza, Cool Cats Co-Founder and Advisor to Bitcoin․com Verse NFT Collection sponsored Bitcoin.com yesterday announced that buyers in the VERSE token sale, which
Analyst Says Bitcoin Price Could Rise 3x To $300,000 As AVIV Levels Resemble Previous Bull Cycles
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Buenos Aires to Run Ethereum Nodes by 2023
Buenos Aires to Run Ethereum Nodes by 2023 The city of Buenos Aires will deploy a number of Ethereum validator nodes in 2023. The statements were made by Diego Fernandez, secretary
Analyst Predicts ‘The Final Ascent’ For Bitcoin Price, Why A Rise To $300,000 Is Possible From Here
Este artículo también está disponible en español. The Bitcoin price has now returned into a full bullish sentimentnow that the crypto fear and greed index has flipped int
Bitcoin traders set six-figure price targets after BTC reclaims $61K
Nancy Lubale6 hours agoBitcoin traders set six-figure price targets after BTC reclaims $61KAnalysts forecast a Bitcoin run above $100,000 now that BTC reclaimed the $61,000 level.3542 Total views6 Total sharesListen to a
Pocket Network Announces Closing of Its Strategic Private Sale to Accelerate Network Development & Global Expansion
Pocket Network Announces Closing of Its Strategic Private Sale to Accelerate Network Development & Global Expansion press release PRESS RELEASE. Pocket Networkexceeded $56,000,000 i
Leading Mexican Retailer Grupo Elektra Accepts Bitcoin
Leading Mexican Retailer Grupo Elektra Accepts Bitcoin Mexico’s Grupo Elektra, a leading retailer in Latin America, is accepting bitcoin for payments. The chain belongs to c
Analysts optimistic as liquidity ticks and Bitcoin ‘forced selling’ is over
Ciaran Lyons4 hours agoAnalysts optimistic as liquidity ticks and Bitcoin ‘forced selling’ is overBitcoin’s major sell-offs are over and now analysts see the US election and global liquidity as the next big drivers