Stuttgart Stock Exchange Receives BaFin License for Crypto Custody
The financial authority, BaFin, has granted Blocknox, a division of Boerse Stuttgart’s digital business, the final authorization to act as a crypto custodian. The company is allowed to provide institutional clients with an integrated brokerage, trading, and custody services thanks to this license. The second-largest stock market in Germany hopes banks, brokers, asset managers, and family offices will use its services. Since Jan. 1, 2020, under Germany’s legal regulations, specific authorization has been required for the custody of crypto assets. Blocknox received a provisional designation as a supplier of regulated financial services after timely offering its application for this authorization. Matthias Voelkel, CEO of Boerse Stuttgart Group addressed the firm’s latest move and further said, “This is the first time that an established market participant has been licensed to hold crypto currencies in custody without any acquisitions. This completes the unique infrastructure we offer:...