Boerse Stuttgart projects 25% revenue from crypto in 2024

Boerse Stuttgart, a prominent German stock exchange, is experiencing a substantial increase in revenue attributed to its cryptocurrency services, which are projected to account for 25% of its total revenue in 2024.

The exchange reported that its crypto trading volumes have tripled this year, with the total amount of cryptocurrency held for clients reaching €4.3 billion (approximately $4.4 billion) by the end of 2024.

Bitcoin transactions are particularly noteworthy, making up about 50% of the exchange's total crypto transactions.

CEO Matthias Voelkel expressed confidence in the future of cryptocurrencies, citing their growing appeal among investors.

“The market in Europe is benefiting from a positive dynamic,” he stated, reflecting on the anticipated policy shifts in the United States regarding cryptocurrency deregulation.

Voelkel also revealed his personal investment in Bitcoin, emphasising the asset's limited supply and increasing demand as key factors driving its value.

To enhance its crypto offerings, Boerse Stuttgart has formed partnerships with various liquidity providers and banks to ensure secure custody and trading of digital assets.

“In the digital business, we have become the regulated partner for trading and secure custody of cryptocurrencies for DZ Bank and the cooperative banking group,” Voelkel noted.

Additionally, he highlighted that a collaboration with Amazon Web Services is set to bolster their institutional crypto infrastructure across Europe.

Despite concerns about potential overregulation following the implementation of the EU’s Markets in Crypto-Assets Regulation (MiCA), Voelkel remains optimistic about the regulatory environment.

He suggested that MiCA would be beneficial for the industry overall, even as it primarily governs utility tokens and stablecoins rather than tokenised securities.

As Boerse Stuttgart continues to expand its crypto services, it remains committed to providing innovative solutions for both retail and institutional investors.