Crypto Finance and Bitpanda, owned by German Stock Exchange (Deutsch Börse), receive MiCAR licenses from BaFin
Boerse Stuttgart, one of Germany's most active institutions in the crypto space, has made headlines recently by becoming the first to receive a BaFin license. This regulatory approval paves the way for the company to expand its operations across the European Union, thanks to the MiCAR regulatory framework.
The MiCAR license, which stands for the German Act on Investment Services, Asset Management, and Alternative Investment Funds (Capital Investment Code), brings in pan-European crypto standards and allows for passporting. This means that organizations with a MiCAR license can operate in other EU states, making it easier for companies to scale their operations across the continent.
Boerse Stuttgart's journey into the crypto sphere began in 2019 when it launched a retail crypto service in partnership with Axel Springer. On the institutional side, the company is the crypto partner of DZ bank, which serves over 700 community banks in Germany.
DZ bank is now starting to roll out crypto services to its extensive network, further solidifying Boerse Stuttgart's position in the German crypto market.
In addition to Boerse Stuttgart and the cryptocurrency exchange Bitpanda, several other companies are expected to receive MiCAR licenses from BaFin in the coming years. These include Coinbase Germany GmbH, Bison App (Boerse Stuttgart Digital Custody GmbH), BSDEX (Boerse Stuttgart Digital Custody GmbH), Anycoin Direct GmbH, Bitcoin.de, and Bitvavo, among others.
Bitpanda, the German subsidiary of an Austrian cryptocurrency exchange, has already received its MiCAR license and is expected to start operations in both Germany and Austria by April 2025.
It is worth noting that the German regulator BaFin only started authorizing firms after receiving regulatory approval from parliament, which occurred just before Christmas due to the collapse of the German coalition.
Crypto Finance, another player in the German crypto market, is headquartered in Switzerland and is owned by Deutsche Boerse, the parent company of the Stuttgart Stock Exchange.
The full article provides deeper insights, industry analysis, and legislative updates for professionals interested in the German crypto market and the broader European crypto landscape.
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