Germany’s Boerse Stuttgart exchange has seen considerable development in its cryptocurrency section, with crypto accounting for 25% of its earnings by 2024. A nearly tripling of trading volume has fueled this increase in cryptocurrency trading, setting a new record for the exchange. By the end of 2024, the total value of cryptocurrencies held at Boerse Stuttgart will be around 4.3 billion euros ($4.4 billion), with Bitcoin accounting for nearly half of all transactions.
Matthias Voelkel, the exchange’s CEO, voiced optimism in the cryptocurrency market’s future expansion, citing Bitcoin’s limited supply and rising investor demand. Voelkel is an investor in Bitcoin, touting its strong, tamper-proof blockchain technology. The exchange’s crypto services include not just trading but also secure custody and staking options, which have garnered popularity among institutional clients across Europe.
Since 2019, Boerse Stuttgart has been growing its cryptocurrency offerings, drawing over one million traders. In addition, in 2024, the exchange will provide a fully insured cryptocurrency staking service in collaboration with Munich Re, solidifying its position in the European digital asset market. Looking ahead, Boerse Stuttgart plans to strengthen its relationships with more European banks, brokers, and asset managers by 2025, which will contribute to the broader acceptance of cryptocurrency.
