Boerse Stuttgart Digital Lands MiCA License From Germany

Boerse Stuttgart Digital, a unit of stock exchange operator Boerse Stuttgart, said it was granted a crypto asset service provider (CASP) license by the German regulator BaFin allowing it to provide services across the European Union under the bloc's Markets in Crypto Assets (MiCA) regulations.

The company operates a brokerage and an exchange and intends to use the license to broaden its offerings for financial institutions across Europe, Matthias Voelkel, CEO of Boerse Stuttgart Group said in an emailed statement.

Companies have been vying for MiCA licenses, which give crypto asset service providers permission to operate across the 27-nation bloc. The requirement came into force on Dec. 30, before which CASPs had to acquire licenses in each nation separately.

“The issuance of the MiCAR license, just a few weeks after the adoption of the required national legislation, also enhances Germany's overall competitiveness in the European crypto market,” Oliver Vins, Boerse Stuttgart Digital's chief finance and regulatory officer, said in the email.

Germany passed the legislation needed to implement MiCA days before the year-end deadline despite political turmoil that resulted in an early election being called for Feb. 23.

Boerse Stuttgart Digital joins MoonPay, BitStaete, ZBD and prime brokerage and clearing company Hidden Road, who received the license from the Dutch Authority for the Financial Markets (AFM) in December.

Read more: EU Countries Struggle to Implement MiCA as Deadline for Crypto Regulatory Revamp Looms

.