“Can a 160-year-old German stock exchange become the regulated backbone for European crypto under MiCAR?”
BSDEX launched in 2019 as the crypto trading arm of Germany's Boerse Stuttgart Group — bringing regulated-exchange discipline (open order books, market surveillance, KWG §2 Abs.12 compliance) to spot crypto trading. In 2023 the group consolidated its crypto activities under a new 'Boerse Stuttgart Digital' brand, positioning itself as Europe's institutional-grade crypto infrastructure provider. The MiCAR license (a European first) and the diversification of EUR custody from Solaris-only to Solaris + Deutsche Bank in 2024–2025 mark a clear move toward becoming the trusted regulated venue as MiCAR reshapes European crypto.
Boerse Stuttgart Digital discloses Solaris SE and Solarisbank as its banking providers, with Deutsche Bank AG as its sponsor bank, according to the Embedded Finance Index 2026.
Boerse Stuttgart Digital does not disclose a bank charter of its own; its banking services are provided through Deutsche Bank AG.
Boerse Stuttgart Digital processes payments through Solaris SE and Deutsche Bank AG.
Boerse Stuttgart Digital uses SEON for KYC and identity verification.
Boerse Stuttgart Digital's embedded insurance is provided by Munich Re.
Boerse Stuttgart Digital's crypto products run on Boerse Stuttgart Digital Custody GmbH (in-house).
The Embedded Finance Index 2026 maps 7 layers in Boerse Stuttgart Digital's stack: Payments / PSP (Solaris SE and Deutsche Bank AG); Banking / BaaS (Solaris SE and Solarisbank); Insurance (Munich Re); KYC (SEON); Sponsor bank (Solaris SE and Deutsche Bank AG); Crypto (Boerse Stuttgart Digital Custody GmbH (in-house)); Treasury (Solaris SE and Deutsche Bank AG).
Boerse Stuttgart Digital is founded in 2019 and headquartered in Stuttgart, Germany.
Get a read on where your own stack stands against Boerse Stuttgart Digital and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.