Boerse Stuttgart’s Crypto Segment Drives 25% of Revenue, Sees Massive Growth in 2024
Boerse Stuttgart, one of Germany’s premier stock exchanges, has witnessed a significant surge in its cryptocurrency trading sector, with digital asset trades now accounting for 25% of its overall revenue. The exchange, which has been expanding its cryptocurrency offerings since 2019, reported record performance for 2024, with trading volume nearly tripling during the year.
Although the exact figures for crypto trading volume weren’t disclosed, the exchange confirmed that the surge in activity also saw its crypto custody assets reach approximately EUR 4.3 billion (about $4.45 billion). This growth follows the increasing demand for spot ETFs in the U.S., with the launch of these products bringing in over $36 billion in 2024.
Boerse Stuttgart CEO Matthias Voelkel shared that nearly 50% of the exchange’s crypto revenue came from Bitcoin alone. He attributed the success to the company’s focused efforts over the past five years in building a robust cryptocurrency trading platform.
The exchange has also managed to capture a large user base, with over one million cryptocurrency traders using its platform, including both retail investors and institutional clients from across Europe. Voelkel himself has personally invested in Bitcoin, citing his belief in the blockchain technology and its growing role in the future of finance.
In addition to its digital exchange, Boerse Stuttgart runs the retail app BISON, which has contributed to the surge in trading activity. The firm also made strides by launching an insured cryptocurrency staking service in partnership with Munich Re and Staking Facilities, enhancing its appeal to users seeking a secure way to earn rewards on their holdings.
Looking forward to 2025, the exchange plans to expand its crypto infrastructure, with a particular focus on forming new partnerships with European banks, brokers, and asset managers to further fuel the adoption of digital assets. Boerse Stuttgart remains committed to offering fully regulated and reliable services to institutional clients across Europe, paving the way for a more mainstream integration of cryptocurrencies in the financial ecosystem.
