DekaBank Partners with Boerse Stuttgart Digital for Crypto Trading

Top German bank DekaBank has partnered with Boerse Stuttgart Digital to power its crypto trading services, as announced by the digital asset arm of Boerse Stuttgart Group. The collaboration aims to provide DekaBank's clients with seamless and secure access to crypto trading, potentially driving institutional adoption in the European market.

DekaBank, with $395 billion in assets under management, is leveraging Boerse Stuttgart Digital's modular and fully regulated infrastructure for digital assets. The Frankfurt-based company launched its crypto trading and custody services for institutional clients earlier this year, following two years of infrastructure preparation and regulatory approval.

DekaBank secured a crypto custody license from Germany's Federal Financial Supervisory Authority (BaFin) and the European Central Bank (ECB) by the end of 2024. Martin Müller, a board member of DekaBank, stated that the company has the necessary experience, licenses, and tested infrastructure to support Sparkassen and other institutional clients.

Regulators are increasingly comfortable with crypto assets in the context of institutional investment. However, retail crypto trading remains a contentious issue within Germany's Sparkassen network, to which DekaBank belongs.