Crypto infrastructure provider Boerse Stuttgart announced on October 14 a partnership with Amazon Web Services (AWS) to improve their crypto offerings for European financial institutions.
This collaboration seeks to streamline the deployment of Boerse Stuttgart Digital’s solutions, making it easier for traditional banks, brokers, and asset managers to scale their services.
Boerse Stuttgart Partnership Comes Amid Growing Crypto Demand
In a press release, Boerse Stuttgart explained that the latest collaboration with AWS comes as more retail and corporate customers across Europe look for safe and reliable ways to enter the crypto market.
AWS is a comprehensive cloud computing platform that offers a range of services to enhance operational efficiency, security, and scalability. For Boerse Stuttgart, AWS provides essential cloud infrastructure, robust data security, and scalable solutions to manage digital asset transactions effectively.
Commenting on the partnership, Dr Matthias Voelkel, the CEO of Boerse Stuttgart Group, explained that institutional investors want to offer their clients access to cryptocurrencies and digital assets without compromising trust and security.
This is why they chose Boerse Stuttgart Digital. By using the AWS Cloud, Boerse Stuttgart can improve its already established and regulated solutions, allowing institutional clients across Europe to easily build and grow their own crypto businesses.
It is important to note that the clear breakdown of Boerse Stuttgart’s partnership with AWS, such as finance, specific objectives, or defined goals, remains unclear.
Nevertheless, the timing of this partnership is important as interest in crypto continues to grow. Many individuals and companies are eager to explore digital assets and need dependable platforms to do so.
For example, Bitcoin spot exchange-traded funds (ETFs) are gaining traction in various global markets, including the US and Hong Kong. Additionally, PayPal, a leading payment platform, recently announced its support for merchants to buy, hold, and sell Bitcoin and other crypto assets.
BREAKING: Yesterday the Spot #Bitcoin ETF saw $250 MILLION inflow! pic.twitter.com/kfaokGNpoh
— Crypto Rover (@rovercrc) October 12, 2024
Boerse Stuttgart believes that traditional financial institutions now face an important choice whether to ignore this growing trend or team up with trusted providers known for their security and reliability.
Boerse Stuttgart & DZ Bank Boost Crypto Offerings for 700 Cooperative Banks
Stuttgart is making important strides to improve its cryptocurrency services in response to rising demand from retail and corporate customers.
On September 24, DZ Bank, a major player in Germany’s cooperative banking sector and a client of Boerse Stuttgart, announced a partnership aimed at empowering 700 cooperative banks. This initiative will enable these banks to offer their customers the ability to trade and securely store cryptocurrencies in licensed custody.
EUROPEAN BANKS ROLLING OUT REGULATED CRYPTO TRADING SERVICES FOR RETAIL CUSTOMERS RIGHT NOW
Major announcement from DZ Bank just 8 hours ago.
In a huge step toward mass crypto adoption, DZ Bank will enable 700 banks to offer retail customers the ability to TRADE and STORE… pic.twitter.com/i3j2h9QO2g— SMQKE (@SMQKEDQG) September 20, 2024
The technical setup for this project is already in progress. Some banks are expected to connect by the end of this year, starting with a testing phase for select retail customers.
With this collaboration, Stuttgart and DZ Bank are leading the way in Europe, being the first established institutions to provide cryptocurrencies to retail customers on such a large scale.
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