Blocknox is licensed to store cryptocurrencies
The company will now provide storage and trading services for cryptocurrencies
Other organisations are also using the licence
Blocknox, a division of the Stuttgart Stock Exchange, has received a licence from the German Federal Financial Supervisory Authority to store cryptocurrencies. This means that the company will now be able to provide storage and trading services for crypto-assets. This license is also used by all kinds of banks, brokers, and family offices.
The exchange's CEO Matthias Voelkel said in an email:
"BaFin's licensing will allow the exchange to offer a one-stop shop, which is fully regulated in Germany, for brokerage, trading and storage of digital assets."
Boerse Stuttgart is the sixth largest stock exchange in Europe and the second largest in Germany. The company has been providing cryptocurrency services for several years. In 2018, it launched a digital asset trading app called Bison. And in 2021, trading volume was more than $2.4 billion.
Germany is ambivalent about the cryptocurrency sector. Late last year, Germany's Federal Financial Supervisory Authority (BaFin) issued a warning to the local Coinbase unit. The company was ordered to remedy organisational deficiencies as soon as possible. More recently, the same authority launched an investigation against Uniswap, which announced its own wallet and offered Germans early access.