Boerse Stuttgart, one of Germany’s top stock exchanges, has announced a partnership with DekaBank to bring cryptocurrency trading to the German investment bank’s institutional clients.
The partnership allows DekaBank, a financial giant with over 411 billion euros ($427 billion), to integrate crypto into its offerings using Boerse Stuttgart Digital’s regulated brokerage infrastructure.
“Partnering with DekaBank to offer crypto trading to its institutional clients underscores our commitment to providing financial institutions across Europe with secure and fully regulated infrastructure solutions,” said Boerse Stuttgart Group’s CEO Matthias Voelkel.
Boerse Stuttgart Digital, a subsidiary of Boerse Stuttgart Group, provides brokerage, trading, and custody services for financial institutions in Europe. Last month, the exchange revealed its cryptocurrency trading business had exploded in recent years and now accounts for 25% of its overall revenue.
The tie-up is part of Boerse Stuttgart’s plans to expand partnerships with “additional European banks, brokers, and asset managers, further contributing to the mass adoption of cryptocurrencies.”
The exchange has said that cryptocurrency trading volumes “almost tripled” last year to mark their best performance year-to-date. It holds around 4.3 billion euros ($4.45 billion) in custody.