Boerse Stuttgart Digital enables crypto trading at DekaBank

The digital asset arm of a major German stock exchange, Boerse Stuttgart, is assisting local investment bank DekaBank in providing cryptocurrency trading services to its institutional clients.

Boerse Stuttgart Digital will provide its regulated infrastructure to enable DekaBank’s crypto offering, which is exclusively aimed at institutional clients, the firm said in an announcement shared with Cointelegraph on Feb. 28.

“With our fully regulated brokerage solution, DekaBank can seamlessly provide secure and reliable access to crypto trading,” Boerse Stuttgart Digital said in a statement on its LinkedIn page.

The partnership comes shortly after Boerse Stuttgart Digital Custody received a full license in January under the European Union’s new Markets in Crypto-Assets (MiCA) framework.

DekaBank’s crypto journey: From skepticism to adoption

Founded in 1918, DekaBank is a major German asset manager with total assets of more than 411.5 billion euros ($427 billion) as of September 2024.

One of Germany’s largest securities services providers, DekaBank started its crypto journey in 2023 by building a blockchain-based tokenization platform in collaboration with the Swiss digital asset firm Metaco.

“Cryptocurrencies are tradable around the world, more regulated in some parts of the world, and less to not regulated in other parts of the world,” DekaBank’s digital asset executive Andreas Sack told Cointelegraph at the time, pointing to potential risks arising from regulatory disparities.

With the EU progressing with its MiCA crypto regulation framework, DekaBank’s entrance into crypto trading was natural, particularly given its partnership with the MiCA-licensed Boerse Stuttgart.

Boerse CEO is happy about the strong market dynamic from the US

Boerse Stuttgart, which saw its crypto business drive 25% of its total revenue in 2024, welcomes global regulatory developments in the crypto industry.

“We are convinced that for the crypto market to thrive, smart regulation is key,” Boerse Stuttgart Group CEO Matthias Voelkel said in a statement on LinkedIn on Feb. 25.

Related: Bitcoin has ‘no real economic need,’ says ECB adviser

“Regulation providing clear guidelines which ensure transparency and trust, allowing to innovate, while sorting out unserious players,” Voelkel wrote, adding:

“So we welcome that Europe has put smart crypto regulation in place. And we are happy about the strong market dynamic coming from the US. Against this backdrop $500,000 USD for Bitcoin might not be unrealistic in the mid-term […]”

Voelkel also emphasized that Europe is not lagging behind the United States in crypto adoption, while admitting that the US has done better regarding artificial intelligence developments.

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