EU stock exchange Boerse Stuttgart sees crypto drive 25% of 2024 revenue
Boerse Stuttgart, a major German stock exchange, reported a significant revenue increase from cryptocurrency services in 2024, with crypto trading volumes tripling and accounting for 25% of total revenues. By year-end, client-held cryptocurrency reached 4.3 billion euros, with Bitcoin representing about 50% of transactions. The exchange attracted over one million clients, primarily from German-speaking regions. CEO Matthias Voelkel expressed optimism about the crypto market's growth, citing Bitcoin's limited supply and rising demand. Boerse has formed partnerships with banks and liquidity providers to enhance its crypto services and has begun offering insured staking through collaboration with Munich Re. Voelkel dismissed concerns that U.S. deregulation under President-elect Trump would shift the crypto market away from Europe, highlighting the positive dynamics in the European market. The EU's Markets in Crypto-Assets Regulation (MiCA) became fully effective in late 2024, which executives believe will benefit the cryptocurrency industry despite potential overregulation concerns.
