Earlier this year DekaBank partnered with Börse Stuttgart Digital to enable cryptocurrency trading for its institutional clients. Now they are extending the collaboration to develop a solution for the retail customers of the German savings banks (Sparkassen) that DekaBank services, with a launch expected next year. The combined offering will cover trading, custody and the front end.
This is a major achievement for Börse Stuttgart Digital, as it already provides retail services to the community banks (Volksbanken and Raiffeisenbanken) through a deal with DZ Bank. With this latest DekaBank deal it has a clean sweep of both community and savings banks, with about 700 banks in each group.
The success of the stock exchange’s subsidiary is not surprising given its extensive experience. Börse Stuttgart first launched a retail solution in 2019 in collaboration with Axel Springer, and finanzen.net.
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