Boerse Stuttgart Digital, the crypto-focused arm of the Stuttgart Stock Exchange, plans to launch a fully insured cryptocurrency staking service. This subsidiary of the Boerse Stuttgart Group, Europe’s sixth-largest stock exchange group, intends to roll out the service next year.
While staking is technically decentralized and open to anyone, services like Boerse’s cater to institutional investors who prefer to avoid the technical complexities and risks involved. Munich Re, a global reinsurance company, is a key partner in this endeavor and has designed an insurance product to mitigate risks associated with proof-of-stake blockchains, including slashing penalties for malicious activities.
Boerse Stuttgart Digital’s goal is to expand its client base, particularly among institutional investors, by offering a fully insured staking service. The subsidiary had previously obtained a license from the German Federal Financial Supervisory Authority (BaFin) to provide custody services for digital assets.
This development aligns with the recent efforts of major financial institutions like Deutsche Bank and HSBC to explore digital asset partnerships and initiatives. Notably, crypto-native platforms like Coinbase and Kraken have faced legal challenges from the Securities and Exchange Commission (SEC) for their staking services in the United States, as they were not registered as securities products.
By FCCT Editorial Team
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