• Boerse Stuttgart Digital, a subsidiary of Germany’s second largest stock exchange, has been granted a final license from BaFin as a cryptocurrency custodian.

• This allows institutional investors to trade bitcoin on the platform, and also to use it for custody services through its Blocknox platform.

• Major international firms such as Fidelity and Mercado Libre have recently opened their own bitcoin trading platforms, but self-custody is still the safest way to ensure access and availability of your bitcoin.

Boerse Stuttgart Digital Granted Final License for Cryptocurrency Custodian

Boerse Stuttgart Digital, a subsidiary of the second largest stock exchange in Germany, has received the final license as a cryptocurrency custodian from Germany’s financial regulator, BaFin. The license allows the exchange to provide institutional investors the ability to trade bitcoin on the platform as well as to act as a custodian.

Custody Services Through Blocknox Platform

The exchange has been offering custody services through its Blocknox platform since January 2020, under a provisional license. With this new licensing, it will join the ranks of several major international firms officially entering into the bitcoin custodial and trading industry as of late.

Fidelity & Mercado Libre Bitcoin Trading Platforms

Fidelity opened their bitcoin trading platform to the public this month, allowing institutional investors the option to hold their bitcoin with them as well. In addition to that, Latin America’s largest e-commerce platform by market value, Mercado Libre, introduced bitcoin trading to their Chilean users, which was already available in Brazil.

Risks Associated with Third-Party Custody

It should be noted that all of these platforms bear the risks associated with third-party custody of your bitcoin. The safest way to ensure your bitcoin is always accessible and always available is through self-custody using a dedicated bitcoin wallet.

Potential for Bitcoin Adoption

Platforms like Boerse Stuttgart Digital and Fidelity have made bitcoin trading available to investors on these platforms but do not necessarily further enable true potential for adoption of this technology

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