Germany’s Bafin licenses Boerse Stuttgart’s firm Blocknox as crypto custodian.
Boerse Stuttgart Digital is the stock market’s brand for all activities in the field of cryptocurrencies. Through the unit, Boerse Stuttgart Group is able to offer institutional partners various solutions for accessing,A high six-digit number of end customers are already benefiting from excellent liquidity today.
According to Matthias Voelkel, CEO of Boerse Stuttgart Group, the license allows the company to become a fully regulated, one-stop shop for brokerage, trading and custody of digital assets. “This makes us the infrastructure partner of choice for banks, brokers, asset managers and family offices,” he elaborated.
Reliability, stability and transparency form the basis for functioning crypto markets, added Oliver Vins, managing director of Boerse Stuttgart Digital and Blocknox. He believes that the Bafin license asserts Boerse Stuttgart’s role as a provider of secure access to the growing market for digital assets.
Crypto custody services were legalized in Germany in January 2020. Companies that want to provide them are required to obtain a special permit. In February of that year, Boerse Stuttgart that Blocknox intends to offer such services to institutional clients. The subsidiary applied for regulatory approval and was initially granted the provisional status of a regulated financial service provider.
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