Boerse Stuttgart Digital subsidiary receives final approval for crypto custody

Boerse Stuttgart Digital, the integer plus marque of the Boerse Stuttgart speech group, announced March 30 that its blocknox work has received last licensing from the German Federal Financial Supervisory Authority (BaFin) to run arsenic a crypto custodian. Boerse Stuttgart Group present offers afloat regulated brokerage, trading, and custody of integer assets, it said.

Its last licensing makes Boerse Stuttgart Digital the archetypal “established marketplace subordinate […] Licensed to clasp cryptocurrencies successful custody without immoderate acquisitions,” Boerse Stuttgart Group CEO Matthias Voelkel said. Boerse Stuttgart Digital said European banks, brokers, plus managers and household offices could incorporated its services into their ain offerings. It operates exchanges successful Germany, Sweden and Switzerland and has an bureau successful Ljubljana, Slovenia, arsenic well.

Related: Institutional crypto custody: How banks are lodging integer assets

Bitcoin Group SE, relation of the German bitcoin.de crypto trading platform, acquired Bankhaus von der Heydt, which was licensed for crypto custody, successful December. German plus manager DZ Bank partnered with Swiss Metaco to connection crypto services, including custody, successful February.

Ritterschlag für dice @bsdex_official: Sie bekommt dice offizielle #BaFin-Lizenz für dice Verwahrung von #Kryptowährungen.https://t.co/MV8vUicatH

Boerse Stuttgart Digital has been providing custody services done blocknox nether a provisional licence since crypto custody regulations were introduced successful Germany connected Jan. 1, 2020. It had begun offering trading services to German residents successful the anterior period and introduced a trading app successful 2021. Boerse Stuttgart Digital received its last custody licensing up of respective different contenders, including Binance.

Global speech radical Nasdaq announced plans connected March 24 to acceptable up a limited-purpose spot institution to connection crypto custody services nether the supervision of the New York Department of Financial Services. This comes aft the United States Securities and Exchange Commission moved to enforce caller rules making it harder for cryptocurrency exchanges to custody crypto by expanding rules primitively formulated successful 2009.

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