Boerse Stuttgart Digital, a unit of stock exchange operator Boerse Stuttgart, said it has obtained a crypto asset service provider (CASP) license from German regulator BaFin, allowing it to provide services across the European Union in the framework of the block’s crypto asset markets (MiCA). regulations.
The company operates a brokerage and an exchange and intends to use the license to expand its offering to financial institutions across Europe, Boerse Stuttgart Group CEO Matthias Voelkel said in an emailed statement. .
Companies are competing for MiCA licenses, which allow crypto asset service providers to operate in the 27-country bloc. The requirement came into effect on December 30, before which PSAPs had to acquire licenses separately in each country.
“The issuance of the MiCAR license, just weeks after the adoption of the required national legislation, also improves Germany’s overall competitiveness in the European crypto market,” said Oliver Vins, Chief Financial and Regulatory Officer of Boerse Stuttgart Digital, in the email.
Germany passed the legislation needed to implement MiCA days before the year-end deadline, despite political unrest that resulted in early elections being called for February 23.
Boerse Stuttgart Digital joins MoonPay, BitStaete, ZBD and brokerage and clearing firm Hidden Road, which received the license from the Dutch Financial Markets Authority (AFM) in December.
Read more: EU countries struggle to implement MiCA as deadline for crypto regulation overhaul looms
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