Boerse Stuttgart, one of Germany’s major stock exchanges, has seen its cryptocurrency trading business explode in recent years to now represent approximately 25% of its total revenue, a company spokesperson confirmed.
While it did not reveal the exact volume of cryptocurrency trading, the exchange group shared in a press release late last year that the metric “nearly tripled” in 2024 to record its best-ever performance. Boerse Stuttgart had around 4.3 billion euros ($4.45 billion) in custody.
The relative success of the exchange’s crypto business comes against a backdrop of mania for spot ETFs in the United States, the launch of which generated inflows of $36.2 billion in 2024.
Bitcoin accounted for almost 50% of the cryptocurrency exchange’s revenue, according to the company’s CEO Matthias Voelkel, who told global news agency Agence France-Presse (AFP) that the exchange has spent the last five years growing your cryptocurrency trading platform.
The exchange’s focus on attracting both professional and retail investors within the German-speaking world has apparently proven fruitful as the platform has managed to attract over one million cryptocurrency trading clients.
Voelkel himself, according to AFP, invested in bitcoin after considering the benefits of the blockchain technology that underpins the cryptocurrency and believing that its popularity will continue to grow.
Boerse Stuttgart offers services through its digital exchange as well as the retail-focused trading app BISON. Last year it achieved record revenue that was “roughly double” what the company saw before the COVID-19 pandemic, the spokesperson told CoinDesk in an emailed statement.
Last year, it started a fully insured cryptocurrency betting service on the BISON app through a partnership with German insurance giant Munich Re and betting provider Sating Facilities.
The exchange remains “committed to scaling its crypto infrastructure to offer reliable and fully regulated brokerage and custody solutions for institutional clients across Europe,” according to the spokesperson. “In 2025, we aim to expand partnerships with European banks, brokers and additional assets.” administrators, further contributing to the mass adoption of cryptocurrencies.”
UPDATE (January 15, 18:10 UTC): Updates story with comments from exchange spokesperson.
