Boerse Stuttgart Digital to Merge with Frankfurt‑Based Tradias – A Strategic Play in Europe’s Institutional Crypto Space
February 13 2026 – Berlin/Frankfurt – The Boerse Stuttgart Group, operator of one of Europe’s largest stock exchanges, announced that its digital‑asset subsidiary, Boerse Stuttgart Digital, will combine forces with Tradias, a Frankfurt‑based digital‑asset trading firm. The merger is positioned as a “strategic move” to broaden the exchange group’s reach in the burgeoning institutional crypto market.
Deal structure
- Personnel: Approximately 300 staff members from both entities will be integrated under a joint management team.
- Scope of services: The merged entity will offer a full suite of digital‑asset solutions, including brokerage, spot and derivatives trading, custody, staking, and tokenized‑asset services.
- Target clientele: Banks, broker‑dealers and other financial institutions across Europe will be the primary customers, receiving a fully regulated infrastructure for crypto activities.
- Regulatory footing: Boerse Stuttgart Digital already operates under the EU’s Markets in Crypto‑Assets (MiCA) framework, while Tradias holds a securities‑trading licence from BaFin (Germany’s Federal Financial Supervisory Authority).
- Financial terms: The parties declined to disclose the price. Bloomberg’s analysis suggests Tradias could be valued at roughly €200 million (≈ $237 million) and that the combined organization may be worth more than $590 million.
Background
Boerse Stuttgart has accelerated its crypto push over the past two years. In 2025 the exchange reported a three‑fold increase in crypto‑trading volumes, with digital‑asset activity accounting for about 25 % of total revenue in 2024. The group’s chief executive, Matthias Voelkel, has publicly affirmed a bullish outlook on cryptocurrencies and even disclosed personal Bitcoin holdings.
Tradias, founded by Christopher Beck, operates as the digital‑assets arm of Bankhaus Scheich and is licensed by BaFin to conduct securities trading. The firm recently partnered with AllUnity, a MiCA‑licensed issuer of the euro‑pegged stablecoin EURAU, to bring that token to its over‑the‑counter (OTC) platform.
Strategic rationale
Both companies see the merger as a way to create a “European champion” in regulated digital‑asset infrastructure. By pairing Boerse Stuttgart Digital’s compliance‑first platform with Tradias’ execution capabilities, the combined entity will be able to cover the entire value chain—from order intake and execution to custody and staking—under a single, regulated umbrella.
“With the planned merger of Boerse Stuttgart Digital and Tradias, Boerse Stuttgart Group is driving the development and consolidation of the European crypto market,” said Voelkel.
“Together, we will cover the entire value chain for digital assets and create a new European champion with significantly greater reach, strategic depth, and creative power for further market consolidation,” added Beck.
Market implications
- Regulatory confidence: The merger underscores the growing importance of operating within the EU’s MiCA framework and national licences such as BaFin’s. Institutional participants are likely to view the joint venture as a low‑risk gateway to crypto exposure.
- Competitive positioning: The combined firm will directly challenge other regulated crypto service providers in Europe, such as Bitstamp, Kraken and the crypto arms of traditional banks that have recently entered the space.
- Liquidity and product expansion: Access to Tradias’ execution technology could boost liquidity for Boerse Stuttgart Digital’s order books, while the latter’s custody infrastructure may accelerate token‑ization projects and staking services for institutional clients.
- Potential for further M&A: The transaction may set a precedent for additional consolidation among regulated crypto firms, as market participants seek scale to meet the cost and compliance demands of serving institutional customers.
Key takeaways
- Unified offering: The merged entity will provide end‑to‑end crypto services—brokerage, trading, custody, staking, and tokenization—under a fully regulated framework.
- Regulatory compliance: Operates under both MiCA (EU) and BaFin (Germany), offering a high degree of regulatory assurance to institutional users.
- Scale: Consolidation of roughly 300 employees and combined assets could push the firm’s valuation past $590 million.
- Strategic ambition: Described by both CEOs as the next logical step toward building a European leader in regulated digital assets.
- Industry impact: Likely to intensify competition among regulated crypto service providers and could stimulate further consolidation in the European market.
The merger, expected to close later this year pending regulatory approvals, represents a significant step in the evolution of Europe’s institutional crypto infrastructure, aligning traditional exchange expertise with specialized digital‑asset execution capabilities.
Source: https://cointelegraph.com/news/boerse-stuttgart-digital-tradias-agree-merger-to-build-european-crypto-hub?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
