**Tradias Secures BaFin License, Eyes European Expansion**

Tradias, the digital assets arm of Germany's Bankhaus Scheich, has been granted a securities trading bank license by BaFin, Germany's financial watchdog. This milestone follows a successful Series A funding round, though details remain scarce.

CEO Michael Reinhard announced that the new license will fuel Tradias' growth and solidify its position in the digital assets space. The firm plans to expand its European operations by 2025, enhance its product offerings, and continue innovating.

Founded in 2020, Tradias offers OTC trading for cryptocurrencies and security tokens, along with crypto loans and liquidity services. The recent funding, sourced mainly from family offices and wealthy private investors, aims to boost staff numbers from 90 to 100 by year-end.

Bankhaus Scheich, a key player in Germany's crypto market, has been active in blockchain technology trials and partnered with Deutsche WertpapierService Bank to offer Bitcoin services to account holders at 1,200 banks.