Boerse Stuttgart merges crypto business with Tradias to expand in EU
German stock exchange operator Boerse Stuttgart Group plans to merge its crypto business with Frankfurt-based digital asset trading firm Tradias. The combined platform will serve banks, brokers and other financial institutions across Europe, offering a full range of services — from brokerage and custody to asset tokenization.
The new company will employ around 300 staff under a joint management team, according to a company press release.
Financial terms of the deal were not disclosed. Bloomberg reported that Tradias could be valued at about €200 million, while the combined entity may be worth more than $590 million.
Bet on the regulated market
Boerse Stuttgart Digital operates in line with the EU’s Markets in Crypto-Assets (MiCA) regulation and already provides licensed trading and custody services for digital assets. In 2025, the company reported a threefold increase in crypto trading volumes, while in 2024 the crypto segment accounted for a quarter of the group’s total revenue.Tradias operates as the digital asset arm of Bankhaus Scheich and holds a BaFin banking license for securities trading. Previously, the firm partnered with euro stablecoin issuer EURAU to integrate trading pairs into its over-the-counter platform.
Boerse Stuttgart said the merger is expected to accelerate consolidation of the European crypto market and create a “new champion” in digital assets.
Why it matters
The deal comes as MiCA rules are being fully rolled out across the EU. The regulation has effectively opened the door for major traditional financial players to enter the crypto space by introducing unified requirements for licensing, capital and investor protection. Banks and exchanges can now scale crypto services without regulatory fragmentation between member states.For the market, this signals that institutional infrastructure around Bitcoin and other digital assets in Europe is entering a new phase. Competition is shifting from startups to large exchange groups and banks that are betting on a fully regulated model — including custody, staking and tokenization of traditional assets.
If the trend continues, Europe could build its own institutional crypto liquidity hub, competing with the US and Asia not on speed, but on regulatory clarity and financial sector trust.
As previously reported, Blockchain.com obtained a MiCA license in Malta and appointed a head of EU operations.
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