Boerse Stuttgart Digital received its final license from Germany’s financial regulator BaFin to offer bitcoin trading and custody.
Boerse Stuttgart Digital, a subsidiary of Germany’s second-largest stock exchange, has received the final license as cryptocurrency custodian from Germany’s financial regulator BaFin. The license allows the exchange to provide institutional investors with the ability to trade bitcoins on the platform, as well as act as a custodian.
The exchange has been offering custody services through its Blocknox platform since January 2020, under a provisional license. With this new license, you will join the ranks of several major international firms officially entering the bitcoin custody and trading industry in recent times.
Fidelity opened its bitcoin trading platform to the public this month, allowing institutional investors the option to keep their bitcoins with them as well. On top of that, the largest e-commerce platform in Latin America by market value, Mercado Libre, introduced bitcoin trading to its Chilean users, which was already available in Brazil.
It should be noted that all of these platforms bear the risks associated with the custody of your bitcoin by third parties. The safest way to ensure that your bitcoin is always accessible and available is through self-custody, using a dedicated bitcoin wallet. Platforms like Boerse Stuttgart Digital and Fidelity have made bitcoin trading available to investors on these platforms, but they don’t necessarily further enable the true potential of bitcoin adoption.
