With this license, Boerse Stuttgart Digital can expand its brokerage and exchange services to financial institutions across Europe.
By Chimamanda U. Martha
Edited by Julia Sakovich
Updated
3 mins read
Boerse Stuttgart Digital, the crypto arm of Germany’s second-largest stock exchange, has secured a crypto asset service provider (CASP) license in Germany, under the Markets in Crypto Assets (MiCA) framework, allowing it to legally expand its services across the European Union.
The license was granted by Germany’s financial regulator, the Federal Financial Supervisory Authority (BaFin), making Boerse Stuttgart Digital the first German firm to own a CASP license. This regulatory achievement positions the company to scale its offerings beyond Germany, catering to institutional clients across the EU’s 27-nation bloc.
With the license in place, Boerse Stuttgart Digital can provide regulated brokerage and exchange services to financial institutions across the region, reinforcing its status as a trusted player in Europe’s evolving crypto market.
The new license was approved under the MiCA regulatory framework, which was designed to standardize crypto regulations across the EU. Unlike previous regulations that required firms to secure separate licenses in each member state, MiCA enables licensed companies to passport their services across the entire EU, reducing regulatory friction and enhancing market access.
The German government faced delays in implementing MiCA due to the collapse of its coalition government, which left key financial regulations, including the designation of BaFin as the local MiCA regulator, in limbo.
However, just before Christmas 2024, the Bundestag (German Parliament) passed the necessary legislation, allowing BaFin to issue the CASP license.
Thanks to the new license approval, the company has now joined a growing list of firms securing MiCA approval.
In December 2024, the Dutch Authority for the Financial Markets (AFM) granted similar licenses to MoonPay, BitStaete, ZBD, and Hidden Road, signaling increasing adoption of MiCA-compliant operations across Europe.
According to Oliver Vins, CFO and Regulatory Officer at Boerse Stuttgart Digital, the swift approval of MiCA licenses strengthens Germany’s competitiveness in the European crypto market, making the country a key player in the regulated digital asset space.
“The issuance of the MiCAR license, just a few weeks after the adoption of the required national legislation, also enhances Germany’s overall competitiveness in the European crypto market,” Vins said.
Beyond regulatory compliance, Boerse Stuttgart Digital brings a wealth of experience to the crypto sector. It is the official crypto partner of DZ Bank, one of Germany’s largest financial institutions, which is rolling out retail crypto services to 737 German community banks.
According to reports, the first pilot of this initiative is already underway, signaling a major institutional push into digital assets.
In addition to its institutional focus, Boerse Stuttgart Digital has been active in the retail crypto space. In 2019, it launched a joint venture with Axel Springer, one of Europe’s largest media companies, to provide crypto services to retail investors.
Meanwhile, the company’s expansion into the regulated EU crypto market puts it in direct competition with other institutionally focused firms. Sygnum Bank, a Swiss-based digital asset bank, has secured similar regulatory approvals, including a CASP license in Liechtenstein.
The firm provides crypto banking services to over 20 financial institutions, including Swiss PostFinance, which recently introduced Ethereum staking for its clients.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
