Originally published on: September 19, 2024
In an exciting development, DZ Bank, Germany’s second-largest financial institution, has joined forces with Boerse Stuttgart Digital to provide customers with cryptocurrency trading and custody services through its cooperative bank network. This partnership aims to revolutionize the way retail customers access digital assets like Bitcoin and Ether.
The collaboration, set to kick off later this year, will initially offer select retail clients the opportunity to test the new crypto trading platform. Boerse Stuttgart Group has plans to establish a regulated exchange, BX Digital, in Switzerland, focusing on tokenized securities.
The operational and technical groundwork for this innovative service is already in progress, with the first banks expected to be connected by the end of 2024. A small group of retail clients will be part of the initial testing phase to ensure a smooth launch across the cooperative banking network.
Boerse Stuttgart’s key role in this endeavor involves providing regulatory infrastructure and technical support for DZ Bank’s crypto services. Matthias Voelkel, CEO of Boerse Stuttgart Group, emphasized the retail-customer-oriented nature of the infrastructure solutions offered by the bank’s crypto division.
This move by DZ Bank comes on the heels of Germany’s largest federal bank, the Landesbank Baden-Württemberg, announcing plans to provide crypto custody solutions in partnership with Bitpanda. By leveraging Bitpanda’s platform, custody services, and licenses, the German federal bank aims to cater to institutional clients in the crypto space.
The future of crypto trading in Germany looks promising with these strategic partnerships and initiatives by key financial institutions. Stay tuned for more updates on this exciting collaboration between DZ Bank and Boerse Stuttgart!