Today Boerse Stuttgart Digital said that BaFin had awarded it a license as a crypto-asset service provider (CASP) under the MiCA regulations that came into force at the end of 2024. It’s the first German firm to receive the license that allows it to operate throughout the EU.
While several other jurisdictions have awarded MiCA licenses, the collapse of the German coalition meant that legislation to designate BaFin as the local regulator was missing, amongst other issues. Just before Christmas the German parliament (Bundestag) passed the relevant Bill.
Boerse Stuttgart Digital is one of a handful of firms with both deep crypto experience and strong institutional ties. It is the crypto partner for DZ Bank which is rolling out a retail solution for the 737 German community banks it serves, with the first pilot under way.
The stock exchange’s digital unit is more experienced than most, launching an Axel Springer joint venture targeting retail users in 2019.
“Building on this foundation, we will broaden Boerse Stuttgart Digital’s offerings with integrated solutions for financial institutions across Europe, accelerating the internationalization and structural growth of our digital business,” said Dr. Matthias Voelkel, CEO of Boerse Stuttgart Group.
It faces competition from other institutionally focused firms in different jurisdictions. For example, Switzerland’s Sygnum Bank services more than 20 banks, including the Swiss PostFinance, which has just launched ETH staking. In September Sygnum landed a CASP license in Liechtenstein.
