Germany's Second Largest Exchange Offers Crypto Protection! BTC Ready To Skyrocket?


 "If there is another positive sentiment, it must be able to raise the price of BTC again, right?"

A stock exchange in Germany, Boerse Stuttgart Digital announced that its subsidiary blocknox GmbH has obtained the final license from the German Federal Financial Supervisory Authority (BaFin) as a custodian of cryptocurrencies.

The development came as global stock markets saw a slight recovery after several banks experienced overnight collapses in recent days.

Like to be informed that the license could have a positive impact on the price movement of Bitcoin (BTC) following Boerse Stuttgart Digital has the power to give crypto access to institutional investors.

The streak, Germany's second largest stock exchange expects European banks, brokers or asset managers to apply their trading and protection solutions.

According to Matthias Voelkel, Chief Executive Officer (CEO) of Boerse Stuttgart Group said that they are the first example of a strong market participant obtaining a license to hold digital assets in custody.

Therefore, Boerse Stuttgart Group in September 2022 revealed that it will offer a protection service for BTC and Ethereum (ETH), where it will be made available to institutional investors first.

Earlier, the operator of the Nasdaq exchange intended to launch a crypto protection service, but it is expected to be released at the end of the second quarter and the move aims to expand the scope of services offered in the crypto market.