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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.
OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.
New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More
