Boerse Stuttgart, one among Germany’s high inventory exchanges, has introduced a partnership with DekaBank to carry cryptocurrency buying and selling to the German funding financial institution’s institutional shoppers.
The partnership permits DekaBank, a monetary large 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 supply crypto buying and selling to its institutional shoppers underscores our dedication to offering monetary establishments throughout Europe with safe and absolutely regulated infrastructure options,” mentioned Boerse Stuttgart Group’s CEO Matthias Voelkel.
Boerse Stuttgart Digital, a subsidiary of Boerse Stuttgart Group, gives brokerage, buying and selling, and custody companies for monetary establishments in Europe. Final month, the trade 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 increase partnerships with “extra European banks, brokers, and asset managers, additional contributing to the mass adoption of cryptocurrencies.”
The trade has mentioned that cryptocurrency buying and selling volumes “nearly tripled” final 12 months to mark their finest efficiency year-to-date. It holds round 4.3 billion euros ($4.45 billion) in custody.
