Boerse Stuttgart sees revenue surge from cryptocurrency services in 2024 – Dimsum Daily

15th January 2025 – (Stuttgart) Boerse Stuttgart, one of Europe’s largest exchange groups, has experienced a notable revenue increase driven by its cryptocurrency services in 2024. According to a 15th January report by Barron’s, the exchange’s crypto trading volumes have tripled, contributing to 25% of the company’s overall revenues last year, as stated by CEO Matthias Voelkel.
By the end of 2024, Boerse Stuttgart held €4.3 billion ($4.4 billion) in cryptocurrency for its clients, with Bitcoin making up approximately 50% of total transactions. The exchange has attracted over one million clients, predominantly from German-speaking regions, encompassing both retail and professional investors.
Voelkel expressed optimism regarding the future of the crypto market, citing Bitcoin’s finite supply and increasing demand from investors as key factors for its growing popularity. He revealed that he personally invested in Bitcoin, highlighting the benefits of its secure technology.
To enhance its crypto offerings, Boerse Stuttgart has forged partnerships with liquidity providers and banks. Voelkel noted that the exchange has become a regulated partner for trading and secure custody of cryptocurrencies for DZ Bank and the cooperative banking group, with implementations already underway. Collaborations with Amazon Web Services and Munich Re aim to bolster the exchange’s institutional infrastructure and introduce insured staking for cryptocurrencies.
Voelkel also commented on the anticipated deregulation of crypto in the United States under President-elect Donald Trump, questioning whether this would lead to a market shift to the US. He maintained that the European market is experiencing a positive dynamic.
Since launching its cryptocurrency trading services in 2019, starting with Bitcoin, Boerse Stuttgart has progressively expanded its offerings to include services like Ethereum staking. As the EU’s Markets in Crypto-Assets Regulation (MiCA) comes into full effect, industry executives expect it to significantly advance the cryptocurrency landscape, despite initial concerns over potential overregulation.

© 2021 DimSum Daily. ALL RIGHTS RESERVED.

© 2021 DimSum Daily. ALL RIGHTS RESERVED.

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