Stuttgart Stock Exchange Launches Institutional Cryptocurrency Storage Service

Stuttgart Stock Exchange Launches Institutional Cryptocurrency Storage Service

Blocknox, a subsidiary of the Stuttgart Stock Exchange, has begun offering digital asset custody services to institutional market participants such as banks and investment companies..

The cryptocurrency arm of Germany’s second largest exchange already offers similar services to retail clients operating on its marketplace, but wants to take its custodian service to the next level..

In January, Blocknox notified the local regulator of plans to obtain the appropriate license, so already has the right to offer services on a temporary basis. Currently, documents are being prepared for accreditation and obtaining permission for such activities..

According to Ulli Spankovski, Managing Director of Blocknox, institutional clients will not only be able to store cryptocurrency, but also use the storage as the basis for their own digital asset projects..

Stuttgart Stock Exchange Launches Institutional Cryptocurrency Storage Service

text: Ivan Malichenko, photo: blogspot

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