Blocknox, Boerse Stuttgart Subsidiary, Expands Crypto Custody To Institutional Investors

Boerse Stuttgart subsidiary Blocknox has expanded its crypto custody services to institutional investors, says an announcement made on Tuesday.

Blocknox is already known for offering crypto custody assets services on the escrow basis, but now it has made the same service available to Boerse Stuttgart BISON app’s users and the BSDEX digital assets exchange. The company’s plan is to expand its services even more, behind its own offerings, by safeguarding cryptocurrencies and other types of digital assets for institutional investors, asset managers and banks included.

Blocknox Has Been a Custodian in Germany for Over 1 Year

Talking about Blocknox and its plans, this is what the company’s managing director and Boerse’s chief digital officer, Dr. Ulli Spankowski, had to say:

“As a pioneer in Germany, Blocknox has already been operating as a custodian of cryptocurrencies for more than one year. Now we want institutional clients to benefit from our experience and set-up as well. They can use Blocknox’s reliable custody as a building block for their own services around digital assets.”

Besides, the firm said it already created and deployed a multilevel type of security concept for protecting the assets under its custody.

Blocknox Applying for a Custodian License

Germany has introduced in January new rules for the crypto services providers in the country. Blocknox mentioned it already applied for a license so that it can offer custody services provisionally. Furthermore, it wants to submit a final application before the deadline for becoming a regulated provider of financial services passes.

Spankowski thinks that functioning according to the new rules makes everything more professional in the crypto industry, which can encourage many other institutions to enter the same market. He may be right, as perhaps institutions that haven’t decided to function in the crypto space until now didn’t do it because the regulations were unclear.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Oana Ularu
Oana Ularu
Curious about what’s going on with all the money in the world, Oana is bringing you the latest news in the crypto world. She’s aware of the fact that you need to know everything that’s happening on the financial scene in order to play the cryptocurrency market, so you can count on her to share with you every little detail on what matters.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,481FansLike
2,795FollowersFollow
4,265FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

China Should Seize the ‘First Mover' Advantages of Launching A CBDC: PBoC

China should aim at becoming the first country to issue digital currency as part of its efforts to internationalize the yuan and lessen its...

These 2 DeFi Forks Take a Harsh Beating As The Originals Reclaim Their Dominance

Up until the mid of last week, Curve clone Swerve was enjoying a record $942 million in deposits, or total value locked (TVL), as...

Biggest Banks Involved in Moving $2 Trillion Illicit Funds, Reveals FinCEN Documents

And they say bitcoin is used for criminal activities. The leaked documents of $2 trillion transactions, a tiny proportion of the SARs submitted over the...

Binance Launches the ‘Innovation Zone' to Justify DeFi FOMO Listings

Leading spot exchange Binance has created an “Innovation Zone” to list newer tokens. "The team has created the Innovation Zone, which will allow users to...

Altcoins Crash as Bitcoin Plummets Under $10,600; Overall Crypto Market Looks Pretty Bad

Bitcoin has been stuck around $11,000 since the middle of last week, very slowly moving upwards. Until today that is. The digital asset went...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today