Monday, May 29, 2023

Blocknox, who is owned by one of the biggest stock exchanges in Europe called Boerse Stuttgart, just got permission to be a safekeeper for digital coins. This means that people who invest money into digital coins, like Bitcoin or Ethereum, can trust Blocknox to keep them safe and secure.

Boerse Stuttgart granted Full Licensing as Crypto Custodian by Federal Financial Supervisory Authority (Bafin)

Boerse Stuttgart, the second biggest stock exchange in Germany and one of the largest in Europe, can help European banks, brokers, asset managers and family offices by providing them with trading and custody services for their crypto assets.

Blocknox, a company under Boerse Stuttgart Digital division, have been given the final approval by Bundesrepublik’s Federal Financial Supervisory Authority (Bafin) to act as a crypto custodian. This was announced in a press release.

Boerse Stuttgart Digital is a company that helps people buy, sell, and keep track of cryptocurrencies. Through Boerse Stuttgart’s services, thousands of customers can trade different types of cryptocurrency quickly and easily. The exchange said that a lot of people are already using its services to get the most out of their investments.

Matthias Voelkel, CEO of Boerse Stuttgart Group, says they now have a license that allows them to serve as the only source for buying, trading and keeping digital assets. He added that this makes them the best infrastructure partner for banks, brokers, asset managers and family offices.

Oliver Vins, the managing director at Boerse Stuttgart Digital and Blocknox says that reliability, stability and transparency are very important for successful crypto markets. He also states that their Bafin license will help them secure access to the growing market for digital assets.

At the start of 2020, Germany allowed companies to offer crypto custody services. To do this, they must get special permission from the government. Later that year, Boerse Stuttgart announced that Blocknox would offer custodial service to big clients like banks and businesses. They applied for the needed permission and were given the green light on a temporary basis.

Do you think Germany is going to give companies permission to keep and look after digital currencies? Let us know what you think in the comments section below.


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