- Boerse Stuttgart Digital has partnered with AWS to grow cryptocurrency solutions.
- DZ Bank’s cooperation enables 700 cooperative banks to provide crypto services.
Boerse Stuttgart Digital, Boerse Stuttgart Group’s crypto infrastructure hub, has announced a collaboration with Amazon Web Services (AWS) to enhance its crypto solutions for European financial institutions. In a news release issued on October 14, the Stuttgart-based company stated that the alliance aims to increase scalability and enhance solutions as demand for digital assets grows across the area.
The collaboration is intended to assist traditional banks, brokers, and asset managers in providing secure and dependable cryptocurrency services. European retail customers and organizations are actively seeking reliable ways to enter the cryptocurrency market. This demand is driving the need for robust infrastructure to support their participation. The company emphasized that traditional financial institutions are at a critical juncture. They must either embrace this structural shift or risk falling behind. Partnering with trusted infrastructure providers that ensure security and reliability is the way forward.
Matthias Voelkel, CEO of Boerse Stuttgart Group, emphasized that institutional investors are focused on offering customers access to digital assets with security and confidence. Boerse Stuttgart Digital aims to meet this demand by providing scalable and secure infrastructure solutions. By leveraging AWS’s cloud services, they plan to ensure trust and reliability. This approach aligns with the growing expectations of the financial industry.
Tanuja Randery, Vice President and Managing Director of AWS in Europe, the Middle East, and Africa, shared similar sentiments that they are thrilled to be collaborating with Boerse Stuttgart Group on their aim to make their crypto infrastructure solutions even more scalable, stated Randery. She was excited about the potential to collaborate with financial institutions. As they explore digital assets, she looked forward to helping them meet their evolving demands.
Expanding Crypto Services for Banks
This agreement follows Boerse Stuttgart Digital’s recent involvement with DZ Bank, one of Europe’s leading banking companies. In September, Boerse Stuttgart Digital announced a partnership with DZ Bank to bring crypto trading and secure storage services to 700 German cooperative banks. These banks will now offer their retail customers access to regulated fiduciary custody for cryptocurrencies. This move marks a significant step in expanding crypto services within the German banking sector. This collaboration is part of the company’s larger effort to offer full cryptocurrency services to both retail and institutional clients.
Boerse Stuttgart has expanded its market data offerings by introducing ESG data for cryptocurrencies, complementing its existing AWS connection. This initiative, in partnership with Crypto Risk Metrics, provides sustainability statistics for around 30 cryptocurrencies. The data is designed to help financial institutions comply with the upcoming EU MiCA regulations. MiCA will require crypto asset service providers to be transparent about their environmental, social, and governance measures. The new service positions Boerse Stuttgart as a key player in aligning cryptocurrency markets with sustainability standards.
The ESG data, available through Boerse Stuttgart’s network of data providers, enables institutional clients to expand their products with minimal internal effort. As demand rises, the organization intends to broaden its ESG data coverage to include additional cryptocurrencies.
As the partnership between Boerse Stuttgart Digital and AWS rises, financial institutions will be able to seamlessly incorporate crypto services, further bridging the gap between traditional finance and the fast increasing crypto industry.
