Boerse Stuttgart Digital has become the first firm in Germany to receive a CASP license under new EU rules for MiCA.
According to Ledger Insight, the license was issued by BaFin, the German financial regulator, and was publicly announced on January 17, 2025.
With this license, Boerse Stuttgart Digital is allowed to offer its crypto services across the entire EU and is the first company to receive such wide permission under MiCA, which came into force on December 30, 2024.
The license allows Boerse Stuttgart Digital to offer crypto services to banks, brokers, and asset managers in Europe. Boerse Stuttgart Digital is an important company in the industry and is well-known in the crypto area.
Bernd Stockmann, who leads communications at Boerse Stuttgart Group, confirmed the approval and said, “We can confirm that we received an official Authorisation from BaFin to provide crypto asset services.”
MiCA is the first comprehensive rule for crypto in the world and came into effect two weeks before Boerse Stuttgart Digital received approval. The rule is meant to protect investors and make sure that the crypto market is transparent. Some experts, however, worry that there could be too much regulation.
Dmitrij Radin, CTO of Fideum, warned that retail investors may face more scrutiny. “Retail users will be way more obligated to provide information, data which will be screened,” Radin said. These regulations may also bring more taxation and could lead to enforcement actions against non-compliant platforms.
The Borse Stuttgart Digital has built a reputation based on a number of big-name financial partnerships. It acts as the crypto partner for DZ Bank, extending its crypto service to some 737 community banks around Germany, according to the announcement. In 2019, the company, in partnership with Axel Springer, launched a retail-focused venture targeting retail users.
Dr. Matthias Voelkel, CEO of Boerse Stuttgart Group, explained that the MiCA license will allow them to expand their services, adding “integrated solutions for financial institutions across Europe.”
Other firms are also working to meet similar regulatory standards. For example, Switzerland’s Sygnum Bank secured a CASP license in Liechtenstein in September 2024.
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