The digital arm of Germany’s second largest stock exchange Boerse Stuttgart Digital has secured a license to commence institutional Bitcoin trading. The license issued by Germany’s financial regulator BaFin will enable institutional investors to trade and also custody their Bitcoin with the exchange.
While Boerse Stuttgart Digital has been offering custody services through its Blocknox platform since January 2020, it only had a provisional license and has just obtained its final clearance for a permanent license.
Boerse Stuttgart Digital Joins Other Players
There has been a rising institutional interest in Bitcoin trading and custody, with many mainstream financial institutions showing interest in providing these services. Many of them already allow institutional investors to trade and also provide custodial services.
One of them is Fidelity which commenced institutional Bitcoin trading this month, as well as a Bitcoin custodial service. Mercado Libre, a leading e-commerce platform in Latin America also now provides Bitcoin trading services to its customers in Chile in addition to those in Brazil.
Is Bitcoin Seeing Greater Adoption?
The rising interest in Bitcoin from mainstream institutions is definitely good news for the asset and crypto in general, but does this mean that Bitcoin adoption is actually on the increase?
Even if the answer is no, it is definitely increasing interest in and creating awareness about digital assets. As at 2021, crypto adoption had increased by 800% and this could not be unrelated to institutional interest in the assets.
It could be the reason that more countries are coming up with crypto-friendly guidelines which allow crypto exchanges and other startups to thrive.
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