Boerse Stuttgart Partners With DekaBank to Offer Crypto Trading for Institutional Clients

Boerse Stuttgart, considered one of Germany’s prime inventory exchanges, has introduced a partnership with DekaBank to carry cryptocurrency buying and selling to the German funding financial institution’s institutional purchasers.

The partnership permits DekaBank, a monetary big with over 411 billion euros ($427 billion), to combine crypto into its choices utilizing Boerse Stuttgart Digital’s regulated brokerage infrastructure.

“Partnering with DekaBank to offer crypto trading to its institutional clients underscores our commitment to providing financial institutions across Europe with secure and fully regulated infrastructure solutions,” mentioned Boerse Stuttgart Group’s CEO Matthias Voelkel.

Boerse Stuttgart Digital, a subsidiary of Boerse Stuttgart Group, offers brokerage, buying and selling, and custody companies for monetary establishments in Europe. Last month, the change revealed its cryptocurrency buying and selling enterprise had exploded lately and now accounts for 25% of its general income.

The tie-up is a part of Boerse Stuttgart’s plans to broaden partnerships with “additional European banks, brokers, and asset managers, further contributing to the mass adoption of cryptocurrencies.”

The change has mentioned that cryptocurrency buying and selling volumes “almost tripled” final 12 months to mark their finest efficiency year-to-date. It holds round 4.3 billion euros ($4.45 billion) in custody.