Stuttgart Stock Exchange Division Receives Crypto Custodian License
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March 31, 2023

Germany's Federal Financial Supervisory Authority (BaFin) has granted Blocknox, part of the digital division of the Stuttgart Stock Exchange, a cryptocurrency custody license.

According to the press release, the permission means Europe's sixth largest stock exchange will be able to provide institutional investors with trading and custody services for digital assets.

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Organizations expected to take advantage of the offering include banks, brokers, property management companies and family offices.

Matthias Voelkel, CEO of Boerse Stuttgart, has said:

"Our platform is a one-stop shop for the brokerage, trading and holding of cryptocurrencies, fully regulated by BaFin."

Commerzbank, one of Germany's largest banking groups, filed a similar application in April last year.

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