Bitcoin Pump Incoming? After Nasdaq Another Exchange Enters Crypto custody

Crypto News: Boerse Stuttgart Digital on Thursday announced that one of its units, blocknox GmbH has gained the final license as a crypto custodian from the German Federal Financial Supervisory Authority (BaFin). This development comes when the global stock market witnessed some recovery after the recent dump caused by the multiple bank collapse.

Boerse Stuttgart Digital Gains Crypto Custody License

As per the announcement, Boerse Stuttgart Group under the brand Boerse Stuttgart digital has combined all its cryptocurrency and digital assets operations. The license will give the Boerse Stuttgart digital firm the power to offer solutions to institutional investors with access to cryptocurrencies.

Germany’s second largest stock exchange expects European banks, brokers, asset managers, and family offices to utilize trading and custody solutions.

Matthias Voelkel, CEO of Boerse Stuttgart Group mentioned that this is the first instance that an established market participant gained the license to hold digital assets in custody with any takeover. Read More Crypto News Here…

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Earlier, Coingape reported that the exchange operator Nasdaq might launch its crypto custody services. However, it is expected that to be out by the end of the second quarter. It is being suggested that this move will broaden the scope of services offered in the crypto space.

However, the exchange group, in September 2022 revealed that it will initially offer custody services for Bitcoin (BTC) and Ethereum (ETH). This service will be available for institutional investors first.

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