German stock exchange Boerse Stuttgart reports significant revenue growth from its cryptocurrency services.
Boerse Stuttgart's Crypto Trading Volume Triples
In 2024, Boerse Stuttgart's crypto trading volumes tripled, generating 25% of the company's revenues. By the end of the year, the amount of cryptocurrency held at the exchange totaled 4.3 billion euros, with Bitcoin accounting for roughly 50% of total transactions. The exchange attracted over one million clients, including professional and retail investors primarily from German-speaking countries.
CEO's Optimism About Cryptocurrency
CEO Matthias Voelkel expressed confidence in the continued popularity of cryptocurrencies, citing Bitcoin's limited supply and rising demand. He also disclosed his investment in Bitcoin, highlighting its secure technology. Boerse is expanding its crypto services by partnering with liquidity providers and banks. 'We have become the regulated partner for trading and secure custody of cryptocurrencies,' said Voelkel regarding their collaboration with DZ Bank and the cooperative banking group.
Concerns on Crypto Market's Shift to the US
Voelkel questioned whether Donald Trump's promised crypto deregulation would shift the market to the US, noting Europe's positive market dynamics amid the anticipated US policy changes. Boerse Stuttgart launched its crypto trading services in 2019, starting with Bitcoin, and has since expanded its offerings to include services such as Ethereum staking.
Boerse Stuttgart showcased impressive results in the crypto services sector, driven by trading volume growth and new product development, boosting interest in Europe's crypto market.
