Boerse Stuttgart Digital Custody Becomes First Crypto Provider in Germany

Boerse Stuttgart Digital Custody becomes Germany’s first crypto provider licensed under MiCA, expanding services across the EU.

Boerse Stuttgart Digital Custody has become the first crypto asset service provider in Germany to receive a full license. The new Markets in Crypto-Assets Regulation (MiCA) grants the license under the European Union. Germany’s Federal Financial Supervisory Authority, BaFin, granted the company this license on January 17.

This means that Boerse Stuttgart Digital will now operate across the European Union as a fully licensed crypto asset service provider (CASP). MiCA regulations, which recently became operative by the end of 2024. It is intended to ensure that crypto firms fulfill clear standards for security and transparency. The new license from Boerse Stuttgart Digital supported the company’s aim to give banks, brokers, and asset managers a regulated infrastructure.

Germany’s crypto market has also faced some challenges after the collapse of the German coalition and delayed some regulations. But the German parliament, the Bundestag, managed to pass the relevant bill just before the Christmas holidays. These updated regulations now allow Boerse Stuttgart Digital to function.

Boerse Stuttgart Digital Aims for International Growth with New MiCA License

The company has a good reputation in the crypto space. It has experience with deep crypto and strong ties with institutional partners. For example, DZ Bank is its crypto partner, trying to roll out a retail solution for 737 German community banks. The first pilot program is already underway.

Boerse Stuttgart Digital has experience bringing new ventures to life, too. Last year, it worked with Axel Springer to create a joint venture focusing on retail users. The company is committed to expanding its services for more people with this track record.

The company hopes to expand what it offers, said Dr. Matthias Voelkel, CEO of Boerse Stuttgart Group, looking to the future. This will be to offer integrated solutions for financial institutions across Europe. Doing so will help accelerate the company’s growth and also expand business internationally.

But the company faces competition from other institutions in the crypto space. For example, Switzerland’s Sygnum Bank accepts more than 20 banks on its books, which include Swiss PostFinance. In September, Sygnum also received a CASP license in Liechtenstein.

With its new license, Boerse Stuttgart Digital now sits at the top of Germany’s crypto world, opening the door for regulated services around the EU.