The Stuttgart Stock Exchange’s subsidiary, the Stuttgart-based fintech company2ix, has obtained regulatory approval from BaFin, Germany’s financial regulator, to offer crypto custody services.
Boerse Stuttgart Digital received BaFin’s authorization to provide cryptocurrency administration and escrow services, bringing more institutional investors into the crypto space with regulated and secure custody solutions.
“The approval is an important step for mainstream adoption of digital assets,” said Boerse Stuttgart Digital Managing Director Andreas Geis. “Together with selected partners, we are now building the necessary infrastructure to qualify institutional investors to invest in digital assets.”
Boerse Stuttgart Digital aims to leverage its regulatory approval and partnership with the prestigious Stuttgart Stock Exchange to capture a growing share of the European crypto custody market. Institutional investors have been demanding easier access to digital assets with properly regulated custodians as crypto gains more mainstream interest.