Blocknox, part of Boerse Stuttgart’s digital division, has received final approval as a crypto custodian from the country’s financial regulator, BaFin.
The license means Boerse Stuttgart Digital will be able to offer institutional investors in crypto trading and securities services, Germany’s second largest exchange said in an email on Thursday.
Among the companies he plans to use this offer are banks, retailers, property managers and family businesses. BaFin’s license will allow the exchange to provide “a fully regulated market in Germany for the trading, trading and holding of digital assets,” CEO Matthias Voelkel said in an email.
Boerse Stuttgart, which is the sixth largest exchange in Europe and ranks behind the Frankfurt Stock Exchange in Germany, has been involved in crypto operations for several years. It unveiled a crypto trading tool, Bison, in 2018, saying it was worth more than $2.4 billion in trading volume by 2021.
The company did not immediately respond to CoinDesk’s request for recent figures.