Blocknox, the subsidiary of Boerse Stuttgart, has obtained a crypto-custody license from the BaFin.
The German stock exchange announced on Thursday that the Blocknox unit of its crypto arm Boerse Stuttgart Digital had secured a “final license” for its business activities as a crypto-custodian.
As a reminder, established in 2017, Boerse Stuttgart Digital today serves banks, brokers, asset managers and family offices in Europe but also retail investors with its BSDEX exchange and Bison mobile app, among others. Blocknox, launched as a crypto custodian in 2019, holds the digital coins transiting both services.
This is the first time an established market player is allowed to hold cryptos in custody without any acquisition. This complements the unique infrastructure we offer: of all the traditional service providers operating in the European crypto market, we are now the only fully BaFin-regulated counter in Germany for brokering, trading and custody of digital assets,” trumpeted Matthias Voelkel, CEO of Boerse Stuttgart.
“The BaFin license reinforces our goal of providing financial institutions across Europe with secure access to the growing digital asset market,” said Oliver Vins, the head of Boerse Stuttgart Digital and Blocknox, in turn.