Boerse Stuttgart Digital Secures CASP License for EU Operations
Boerse Stuttgart Digital has obtained a crypto asset service provider (CASP) license in Germany under the Markets in Crypto Assets (MiCA) framework. This makes it the first German company to hold such a license, enabling it to expand services across the EU.
The key points are:
- License granted by Germany's BaFin allows regulated brokerage and exchange services for financial institutions.
- MiCA standardizes crypto regulations across the EU, allowing firms to passport their services without needing separate licenses in each member state.
- German Parliament approved necessary legislation for MiCA implementation shortly before Christmas 2024.
- Other firms, including MoonPay and BitStaete, have also received MiCA licenses in December 2024.
- Boerse Stuttgart Digital partners with DZ Bank to roll out retail crypto services to 737 community banks in Germany.
- Competing firms like Sygnum Bank have secured similar regulatory approvals, enhancing competition in the institutional crypto market.
This regulatory achievement positions Boerse Stuttgart Digital as a significant player in Europe’s evolving digital asset landscape.