Today Germany’s tradias announced it received a securities trading banking license from BaFin. Until now it has been using the license of its parent, Bankhaus Scheich. Additionally, tradias confirmed it closed its Series A funding.
Bankhaus Scheich is a major german market maker, particularly on the Frankfurt stock exchange. Tradias has followed a similar path and provides crypto market making, an OTC crypto desk and tokenization services.
Last year, German securities service provider dwpbank incorporated tradias’ crypto trade execution into its consumer crypto offering. On the tokenization front, earlier this year tradias tokenized shares in a money fund, the Allianz Securicash SRI Fund, on the Polygon blockchain.
While the founders still control the firm, the Series A attracted several small and medium-sized family office investors. Tradias did not share the specific funding amount. However, the Series A combined with profits from 2024 means the firm has equity somewhere north of €10 million.
The proceeds will go towards supporting higher expected trading volumes and for European expansion. By the end of 2024, the company expects to have around 100 employees.
“The transformation from an idea to a fully licensed bank is a testament to our team’s vision and relentless drive. Securing our own licenses and completing a successful Series A funding round is a tremendous milestone for our company,” said Christopher Beck, tradias founder.
