Boerse Stuttgart Digital and Tradias announced their merger with the aim of creating a European crypto hub. Thanks to the partnership, their new valuation is €500 million, of which €200 million is contributed by Tradias.
The operation announced by Boerse Stuttgart Digital involves leveraging the company’s retail distribution network along with Tradias’ infrastructure. Together, the new group aims to offer a comprehensive range of custody, trading, staking, and tokenization services, primarily targeting banks, brokers, and asset managers across Europe. The transaction thus seeks to consolidate capabilities across the entire digital asset value chain.
According to reports, the merged entity will operate with approximately 300 employees under a joint management team and expects to complete the integration in the second half of 2026, subject to regulatory approval. Among the key metrics, the BISON app surpassed one million users in January, while Tradias processed over 30 million transactions for brokers such as flatexDEGIRO, Trade Republic, and dwpbank. Furthermore, reports place the combined valuation at over €500 million, with Tradias’ estimated contribution of approximately €200 million.
Regulatory framework and institutional expansion
The transaction explicitly leverages the European regulatory framework, particularly the Markets in Crypto-Assets Regulation (MiCA), which has been in effect since the end of 2024. This framework provides a harmonized basis for offering compatible trading and custody services across the European Union. Furthermore, Tradias is licensed by BaFin as a securities trading bank, which strengthens the combined group’s regulatory standing.
For its part, Boerse Stuttgart Digital contributes a regulated exchange, BSDEX, along with a robust retail distribution network. Tradias, in turn, adds institutional market-making capabilities, coverage of approximately 150 crypto assets and 1,000 trading pairs, its Seturion settlement platform, and a Swiss subsidiary licensed to operate with blockchain technology.
However, the success of the integration will depend on operational execution and obtaining the necessary regulatory approvals. Integrating retail and institutional systems without impacting liquidity or custody will be a key challenge.
Ultimately, for institutional traders and crypto treasuries, the combined platform could translate into greater liquidity, a wider range of products, and enhanced legal certainty under European supervision. However, market participants will need to closely monitor regulatory filings and approval timelines, as these will determine the specific changes to trading, custody, and institutional access within the new group.
