Boerse Stuttgart crypto-custody subsidiary now targets institutional investors

Blocknox, the subsidiary focused retention of crypto-currencies of Boerse Stuttgart, now wishes to offer its childcare services to fintechs, banks and others asset managers.

On Twitter, the second largest stock exchange in Germany, Boerse Stuttgart, announced that its subsidiary Blocknox planned to offer its crypto-preservation, previously reserved for users of its application Bison and its exchange BSDEX, to the " institutional clients ".

Within our group, blocknox takes care of the custody of #cryptocurrencies on an escrow basis (for users of @bisonapp& @ BsdexE). Looking ahead, blocknox plans to offer custody services also to institutional clients such as #fintechs, banks & asset managers: https://t.co/lSUqQmYOQ5 pic.twitter.com/lpPWtySPzp

– Börse Stuttgart (@boersestuttgart) February 18, 2020

Blocknox, who is currently waiting for a Licence following the establishment of the new regulations for the preservation of digital assets in Germany, has developed a "multi-level" security solution and is now targeting fintechs, the financial institutions and the asset managers.

As a pioneer in Germany, Blocknox already operates as a depositary for the cryptocurrency For more than one year. Now we want the institutional clients also benefit from our experience and our installation. They can use Blocknox as a building block for their own services around digital assets, ”said Ulli Spankowski, CEO of Blocknox GmbH.

Banks and financial technology companies will be able to take advantage of the solution Blocknox in order to launch their own service crypto-custody.

In December, the Japanese financial group SBI announced to invest in the exchange platform BSDEX of the German stock exchange based in Stuttgart.