Blocknox, part of one of Europe’s largest stock exchanges (Boerse Stuttgart), has been given permission to inflate the trading of digital assets in Germany. This means Blocknox can trade digital products for institutional investors from all across Europe.
Boerse Stuttgart Digital Ventures into Crypto Market With Bafin Licensed Crypto Custodians!
Boerse Stuttgart, Germany’s second-largest and one of Europe’s biggest stock exchanges, will help banks, brokers, asset managers and family offices with trading and storing cryptocurrency investments.
A subsidiary of Boerse Stuttgart Digital, called Blocknox, has just been given approval from the Federal Financial Supervisory Authority (Bafin), which is from Germany, to start operating as a crypto custodian.
Boerse Stuttgart Digital is our stock market’s way of doing things with crypto coins. Through this part of the company, Boerse Stuttgart Group can give professional partners different options for getting, trading and keeping the digital coins on behalf of customers. The exchange said that already a lot of people are enjoying their great service. We can estimate around 100 thousand clients have been helped so far!
Matthias Voelkel, the CEO of Boerse Stuttgart Group, said that their license gives them the power to become a fully legal and organized organization for brokerages, trading and storing digital assets. He added that they are now the best choice to offer help with things such as banks, brokers, asset managers and family offices.
Oliver Vins, the manager of Boerse Stuttgart Digital and Blocknox, said that reliability, stability, and openness are really important for making sure the crypto market is safe. He also thinks that getting a special permission called a Bafin license will help make sure Boerse Stuttgart provides a secure way to invest in digital assets.
In January 2020, Germany made it legal for companies to offer services that keep people’s digital money safe – known as ‘crypto custody’. In February, Boerse Stuttgart announced Blocknox’s plan to offer these services to businesses. To do this, they applied to the government for approval and were briefly given permission.
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