Today Börse Stuttgart, the second largest stock exchange in Germany, announced that existing investors SBI and Axel Springer increased their backing of Börse Stuttgart Digital, its cryptocurrency unit. The German exchange was perhaps the first stock exchange to launch cryptocurrency services, with both retail and institutional offerings, including digital asset custody.
In 2019 it announced a retail-focused digital asset joint venture with Axel Springer and finanzen.net, the Boerse Stuttgart Digital Exchange (BSDEX). Later that year, Japan’s SBI Group made an investment in BSDEX and Boerse Stuttgart Digital Ventures.
Now the stock exchange is bundling its entire retail and institutional crypto business into Boerse Stuttgart Digital, with Axel Springer and Singapore-based SBI Digital Asset Holdings investing in that entity.
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