---
title: "Boerse Stuttgart Digital Custody GmbH · Payment institution (Federal Financial Supervisory Authority) · Germany | Elucidate"
description: "Boerse Stuttgart Digital Custody GmbH is authorised by Federal Financial Supervisory Authority as a payment institution in Germany. Licence 157207. LEI 529900RC04FR9EHUT228. Register status, licences, activities and ownership."
url: https://elucidate.co/directory/boerse-stuttgart-digital-custody-gmbh-fd1f366c6402
---

1.  [Directory](https://elucidate.co/directory)
2.  [Germany](https://elucidate.co/directory/country/de)
3.  Boerse Stuttgart Digital Custody GmbH

Germany · Payments & e-money

# Boerse Stuttgart Digital Custody GmbH

Boerse Stuttgart Digital Custody GmbH is a German limited liability company based in Stuttgart. It is registered at the Stuttgart local court under HRB 766353. BaFin authorised it in January 2025 as a crypto-asset service provider under the EU Markets in Crypto-Assets Regulation (MiCA). The BaFin register also lists it as a payment institution under the German Payment Services Supervision Act (ZAG). The firm was formerly named blocknox GmbH. It is a subsidiary of Boerse Stuttgart Digital Holding GmbH within Boerse Stuttgart Group. Under the Boerse Stuttgart Digital brand it provides fiduciary crypto custody and Ether staking to banks, brokers and asset managers. It also holds crypto-assets for retail users of the group's BISON app and the BSDEX exchange.

Register status

Licensed in Germany

Payment institution · Federal Financial Supervisory Authority

Prudential licence

[2 licences and registrations ↓](https://elucidate.co/directory/boerse-stuttgart-digital-custody-gmbh-fd1f366c6402#licences)

BIC **No BIC** LEI **[529900RC04FR9EHUT228](https://search.gleif.org/#/record/529900RC04FR9EHUT228)** [Licence no. **157207**](https://elucidate.co/directory/boerse-stuttgart-digital-custody-gmbh-fd1f366c6402#licences)

## Licences and registrations

Held by Boerse Stuttgart Digital Custody GmbH (LEI 529900RC04FR9EHUT228). 2 entries on 2 of the 22 tracked registers, retrieved 25 September 2026.

| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [EBA PSD2 Register](https://elucidate.co/directory/register/eba-psd2) Federal Financial Supervisory Authority | Payment institutionPayment Institution | 157207 | [Germany](https://elucidate.co/directory/country/de) | Active | 2026-05-20 | — | - Payment services | [Search the register ↗](https://euclid.eba.europa.eu/register/pir/search) |
| [ESMA interim MiCA register of crypto-asset service providers](https://elucidate.co/directory/register/esma-casp) Federal Financial Supervisory Authority (BaFin) | Crypto-asset service providerCrypto-Asset Service Provider | 529900RC04FR9EHUT228 | [Germany](https://elucidate.co/directory/country/de) | Active | 2025-01-17 | — | - Crypto-assets | [Search the register ↗](https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica) |

-   Each licence applies in the country of the regulator that granted it.
-   Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.

## Swift network

Swift’s ISO 9362 BIC directory

Holds no BIC in Swift’s directory.

Its LEI is not mapped to a BIC in the Swift and GLEIF BIC-to-LEI relationship file.

## Overview

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/boerse-stuttgart-digital-custody-gmbh-fd1f366c6402#overview-sources)

Customers

Not published

Employees

Not published

Ownership

Group subsidiary

Boerse Stuttgart Digital Holding GmbH

Firm type

Crypto custody

Trades as Boerse Stuttgart Digital

- **Standing:** The firm previously operated as blocknox GmbH. In August 2026 Boerse Stuttgart Group completed the merger of its Boerse Stuttgart Digital business with tradias, and the combined unit uses the Boerse Stuttgart Digital name.
- **Ownership:** According to its LEI record, Boerse Stuttgart Digital Holding GmbH is the firm's direct parent, and the firm belongs to Boerse Stuttgart Group.
- **Direct parent:** [Boerse Stuttgart Digital Holding GmbH ↗](https://search.gleif.org/#/record/5299006Z3FNQH5Z30H92), Germany
- **Head office:** Börsenstraße 4, 70174 Stuttgart, Germany
- **Company register:** Amtsgericht Stuttgart HRB 766353
- **Incorporated:** 2018
- **Former name:** blocknox GmbH

### Online

- **Websites & references:** [bsdigital.com ↗](https://www.bsdigital.com/) [Wikipedia ↗](https://en.wikipedia.org/wiki/B%C3%B6rse_Stuttgart) group article
- **Official social accounts:** [LinkedIn ↗](https://www.linkedin.com/company/boerse-stuttgart-digital/) · [YouTube ↗](https://www.youtube.com/channel/UCiB6I_OMIYRUU6O3aGNxgjw)

Sources · 17 pages consulted

1.  [portal.mvp.bafin.de/database/InstInfo/institutDetails.do?cmd=loadInstitutAction&institutId=157207&locale=en\_G](https://portal.mvp.bafin.de/database/InstInfo/institutDetails.do?cmd=loadInstitutAction&institutId=157207&locale=en_GB)
2.  [amf-france.org/en/warnings/white-lists/daspcasp/boerse-stuttgart-digital-custody-gmbh](https://www.amf-france.org/en/warnings/white-lists/daspcasp/boerse-stuttgart-digital-custody-gmbh)
3.  [bsdigital.com/en/](https://www.bsdigital.com/en/)
4.  [bsdigital.com/en/services/boerse-stuttgart-digital-custody/](https://www.bsdigital.com/en/services/boerse-stuttgart-digital-custody/)
5.  [bsdigital.com/media/0wthl3fo/verwahrstrategie-bsd-custody.pdf](https://www.bsdigital.com/media/0wthl3fo/verwahrstrategie-bsd-custody.pdf)
6.  [bsdigital.com/en/security-regulation/](https://www.bsdigital.com/en/security-regulation/)
7.  [bsdigital.com/en/imprint/](https://www.bsdigital.com/en/imprint/)
8.  [bsdigital.com/en/team/](https://www.bsdigital.com/en/team/)
9.  [boerse-stuttgart.de/en/about-us/company-structure/our-companies/boerse-stuttgart-custody-gmbh/](https://www.boerse-stuttgart.de/en/about-us/company-structure/our-companies/boerse-stuttgart-custody-gmbh/)
10.  [bsdigital.com/en/blog/boerse-stuttgart-digital-receives-micar-license/](https://www.bsdigital.com/en/blog/boerse-stuttgart-digital-receives-micar-license/)
11.  [bsdigital.com/media/fucbehz4/20260213\_en\_boerse-stuttgart\_digital\_tradias.pdf](https://www.bsdigital.com/media/fucbehz4/20260213_en_boerse-stuttgart_digital_tradias.pdf)
12.  [tradias.de/news/boerse-stuttgart-digital-and-tradias-close-merger-and-aim-for-european-leadership-in](https://www.tradias.de/news/boerse-stuttgart-digital-and-tradias-close-merger-and-aim-for-european-leadership-in-cryptocurrencies-and-digital-assets/)
13.  [bsdex.de/en/terms/](https://www.bsdex.de/en/terms/)
14.  [bafin.de/SharedDocs/Veroeffentlichungen/DE/Verbrauchermitteilung/unerlaubte/2026/meldung\_2026\_03\_1](https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Verbrauchermitteilung/unerlaubte/2026/meldung_2026_03_17_katophlepro.html)
15.  [bafin.de/SharedDocs/Veroeffentlichungen/DE/Verbrauchermitteilung/unerlaubte/2025/meldung\_2025\_07\_2](https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Verbrauchermitteilung/unerlaubte/2025/meldung_2025_07_28_Bit_App.html)
16.  [bafin.de/SharedDocs/Veroeffentlichungen/DE/Verbrauchermitteilung/unerlaubte/2025/meldung\_2025\_04\_2](https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Verbrauchermitteilung/unerlaubte/2025/meldung_2025_04_24_Investitions_Projekt_Gas_Profit_App.html)
17.  [en.wikipedia.org/wiki/B%C3%B6rse\_Stuttgart](https://en.wikipedia.org/wiki/B%C3%B6rse_Stuttgart)

## Authorisation

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/boerse-stuttgart-digital-custody-gmbh-fd1f366c6402#overview-sources)

- **Operates under:** Its own licences

BaFin authorises the firm as a crypto-asset service provider under MiCA. The BaFin register also lists it as a payment institution under the ZAG. It holds crypto-assets in its own name on a fiduciary basis.

| Authority | Licence or registration | Number | Held | Status | Source |
| --- | --- | --- | --- | --- | --- |
| Federal Financial Supervisory Authority (BaFin) Germany | Crypto-asset service provider authorisation under MiCA (custody and administration of crypto-assets, transfer services) | 529900RC04FR9EHUT228 | In its own name | Active | [bsdigital.com ↗](https://www.bsdigital.com/en/services/boerse-stuttgart-digital-custody/) |
| Federal Financial Supervisory Authority (BaFin) Germany | Zahlungsinstitut (ZAG) | 157207 | In its own name | Active | [portal.mvp.bafin.de ↗](https://portal.mvp.bafin.de/database/InstInfo/institutDetails.do?cmd=loadInstitutAction&institutId=157207&locale=en_GB) |

Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.

## Partners and safeguarding

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/boerse-stuttgart-digital-custody-gmbh-fd1f366c6402#overview-sources)

- **Safeguarding:** Segregated safeguarding accountsThe firm states that it holds clients' crypto-assets in fiduciary custody, strictly separated from its own assets, and covers them with crime insurance from a consortium led by Munich Re and Zurich. [bsdigital.com ↗](https://www.bsdigital.com/en/services/boerse-stuttgart-digital-custody/)
- **Crypto-asset custody:** Held by the firmThe firm holds clients' crypto-assets mainly in omnibus wallets that it controls, split across hot, warm and cold wallets. According to its custody policy, independent third parties audit the holdings. [bsdigital.com ↗](https://www.bsdigital.com/media/0wthl3fo/verwahrstrategie-bsd-custody.pdf)

Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.

## Products and markets

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/boerse-stuttgart-digital-custody-gmbh-fd1f366c6402#overview-sources)

-   Crypto custody

It offers fiduciary custody of crypto-assets to institutions, including sub-custody for licensed firms, and Ether staking with Staking Facilities. It also holds crypto-assets for private users of the group's BISON and BSDEX platforms.

It serves institutional clients across the EU under its German MiCA licence, and the AMF lists it as authorised to provide crypto-asset services in France on a free-provision-of-services basis.

- **Sells to:** Financial institutions · Enterprises · Consumers
- **Serves customers in 3 countries:** Germany · Austria · France

## Leadership

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/boerse-stuttgart-digital-custody-gmbh-fd1f366c6402#overview-sources)

- **Chief executive:** Dr. Ulli Spankowski Managing Director (Geschäftsführer); Co-Chief Executive Officer, Boerse Stuttgart Digital Confirmed 29 Sep 2026 · [bsdigital.com ↗](https://www.bsdigital.com/en/team/)
- **Executive:** Dennis Winter Managing Director (Geschäftsführer); Chief Technology Officer, Boerse Stuttgart Digital Confirmed 29 Sep 2026 · [bsdigital.com ↗](https://www.bsdigital.com/en/team/)

## Recent events

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/boerse-stuttgart-digital-custody-gmbh-fd1f366c6402#overview-sources)

1.  Aug 2026

    Merger / acquisition

    Boerse Stuttgart Group completed the merger of Boerse Stuttgart Digital and tradias after the ownership control procedure, with Ulli Spankowski and Christopher Beck as Co-CEOs.

    [tradias.de ↗](https://www.tradias.de/news/boerse-stuttgart-digital-and-tradias-close-merger-and-aim-for-european-leadership-in-cryptocurrencies-and-digital-assets/)

2.  May 2026

    Licence

    The BaFin and EBA registers list the firm as an authorised payment institution under the ZAG from May 2026.

    [portal.mvp.bafin.de ↗](https://portal.mvp.bafin.de/database/InstInfo/institutDetails.do?cmd=loadInstitutAction&institutId=157207&locale=en_GB)

3.  Feb 2026

    Merger / acquisition

    Boerse Stuttgart Digital and tradias announced a planned merger, subject to regulatory approval.

    [bsdigital.com ↗](https://www.bsdigital.com/media/fucbehz4/20260213_en_boerse-stuttgart_digital_tradias.pdf)

4.  Jan 2025

    Licence

    BaFin granted the firm authorisation as a crypto-asset service provider under MiCA.

    [bsdigital.com ↗](https://www.bsdigital.com/en/blog/boerse-stuttgart-digital-receives-micar-license/)

Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.

## Regulator warnings

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/boerse-stuttgart-digital-custody-gmbh-fd1f366c6402#overview-sources)

1.  17 Mar 2026

    Impersonation Federal Financial Supervisory Authority (BaFin), Germany

    BaFin warned that the unknown operators of "KatophlePro" falsely claimed their offer came from the firm or Baden-Württembergische Wertpapierbörse GmbH.

    [bafin.de ↗](https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Verbrauchermitteilung/unerlaubte/2026/meldung_2026_03_17_katophlepro.html)

2.  28 Jul 2025

    Impersonation Federal Financial Supervisory Authority (BaFin), Germany

    BaFin warned that the unknown operators of the trading system "Bit App" falsely claimed their offer came from the firm.

    [bafin.de ↗](https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Verbrauchermitteilung/unerlaubte/2025/meldung_2025_07_28_Bit_App.html)

3.  24 Apr 2025

    Impersonation Federal Financial Supervisory Authority (BaFin), Germany

    BaFin warned that the unknown operators of the "Investitions-Projekt Gas Profit App" falsely claimed their offer came from the firm.

    [bafin.de ↗](https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Verbrauchermitteilung/unerlaubte/2025/meldung_2025_04_24_Investitions_Projekt_Gas_Profit_App.html)

Entries on regulators’ consumer-warning lists that name the firm or its brand. An impersonation warning is about fraudsters posing as the firm, not about the firm itself.

## Identifiers

- **Licence no. · EBA-PSD2:** 157207
- **Licence no. · ESMA-CASP:** 529900RC04FR9EHUT228
- **BIC:** Holds no BIC in Swift’s directory
- **LEI:** [529900RC04FR9EHUT228 ↗](https://search.gleif.org/#/record/529900RC04FR9EHUT228)
- **How the LEI was matched:** Published by the register
- **Elucidate firm ID:** fd1f366c6402

## Profile

- **Type:** Payments & e-money · Crypto
- **Regulation:** Prudential licence
- **Main licence class:** Payment Institution
- **Activities:** - Payment services - Crypto-assets
- **Licensed in:** [Germany](https://elucidate.co/directory/country/de) · Europe & Central Asia
- **First registered:** 2025-01-17
- **Website:** [www.bsdigital.com ↗](https://www.bsdigital.com/)

Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.

## Ownership and group

GLEIF relationship records

- **Direct parent:** Boerse Stuttgart Digital Holding GmbH · Germany[5299006Z3FNQH5Z30H92 ↗](https://search.gleif.org/#/record/5299006Z3FNQH5Z30H92)

Group membership follows the accounting-consolidation relationships reported to GLEIF. It does not show ownership shares or control.

## Addresses

- **Address on the register:** Börsenstraße 4 | 70174 Stuttgart, Stuttgart, 70174
- **Country:** Germany

## ISO 20022 identification

As an agent in a Swift cross-border payment message (CBPR+)

This institution holds no BIC. A CBPR+ message identifies it by name and postal address, and may add its LEI or a clearing code.

- **Identified by:** Name and postal address, with its LEI
- **Postal address:** Hybrid: town, postcode and country in their own elements, the rest in one address line

```xml
<FinInstnId>
  <LEI>529900RC04FR9EHUT228</LEI>
  <Nm>Boerse Stuttgart Digital Custody GmbH</Nm>
  <PstlAdr>
    <PstCd>70174</PstCd>
    <TwnNm>Stuttgart</TwnNm>
    <Ctry>DE</Ctry>
    <AdrLine>Börsenstraße 4 | 70174 Stuttgart</AdrLine>
  </PstlAdr>
</FinInstnId>
```

-   The address line repeats the town or postcode. Remove the repeat if your payment system rejects it.
-   CBPR+ does not accept the characters ö ß in names and addresses. Transliterate before sending.

CBPR+ identifies the instructing and instructed agents by BIC only. An institution without a BIC can be the debtor, creditor or an intermediary agent.

The values are as published by the register. Check them against your own records before use.

## Related institutions

### Other payments & e-money institutions in Germany

-   [Voeb-Zvd Processing GMBH BIC VZVDDED1 Payments & e-money Prudential licence Germany · Licensed by Federal Financial Supervisory Authority · 123960 (EBA-PSD2) · LEI 529900XGDXLEX5L16R90](https://elucidate.co/directory/voeb-zvd-processing-gmbh-vzvdded1)
-   [Bullish Europe GmbH No BIC Payments & e-money Crypto Prudential licence Germany · Licensed by Federal Financial Supervisory Authority · 162355 (EBA-PSD2) · also on ESMA-CASP · LEI 2549008CBASK5Q680X12](https://elucidate.co/directory/bullish-europe-gmbh-a2608dc5996d)
-   [Reisebank AG BIC RBAGDEF1 Payments & e-money Prudential licence Germany · Licensed by Federal Financial Supervisory Authority · 108643 (EBA-PSD2) · LEI 529900CMFR5GQHWTXY51](https://elucidate.co/directory/reisebank-ag-rbagdef1)
-   [Tangany GmbH No BIC Payments & e-money Crypto Prudential licence Germany · Licensed by Federal Financial Supervisory Authority · 157349 (EBA-PSD2) · also on ESMA-CASP · LEI 529900WKXS5ZPJY9W498](https://elucidate.co/directory/tangany-gmbh-fe7a312a5cfb)
-   [AGw Allgemeine Geldwechsel Förster GmbH Wechselstube am Steindamm No BIC Payments & e-money Prudential licence Germany · Licensed by Federal Financial Supervisory Authority · 110140 (EBA-PSD2) · LEI 529900O3RKSCO36SCH80](https://elucidate.co/directory/agw-allgemeine-geldwechsel-forster-gmbh-wechselstube-am-steindamm-fa1df98445cc)
-   [Aifinyo Payments GMBH BIC AIPGDE82 Payments & e-money Prudential licence Germany · Licensed by Federal Financial Supervisory Authority · 156864 (EBA-PSD2) · LEI 894500F7TW6DGUZCZZ87](https://elucidate.co/directory/aifinyo-payments-gmbh-aipgde82)
-   [AirPlus International GmbH No BIC Payments & e-money Prudential licence Germany · Licensed by Federal Financial Supervisory Authority · 119736 (EBA-PSD2) · No LEI mapped](https://elucidate.co/directory/airplus-international-gmbh-1514a814a1b4)
-   [ALD AutoLeasing D GmbH No BIC Payments & e-money Prudential licence Germany · Licensed by Federal Financial Supervisory Authority · 121934 (EBA-PSD2) · LEI 529900HW63U529ZZK761](https://elucidate.co/directory/ald-autoleasing-d-gmbh-2c7e70f618a0)

[See all →](https://elucidate.co/directory/search?type=payments&cc=DE) [Other entries on EBA-PSD2 →](https://elucidate.co/directory/register/eba-psd2)

Sources & method

Register entries come from the public registers of financial regulators, standardised into one taxonomy. LEIs are matched through GLEIF, and a BIC is linked only through a shared LEI.

An institution missing from these registers is not necessarily unregulated.

Register entries are not matched against the OFAC or EU sanctions lists. Where the legal entity also holds a BIC, the matches for that BIC are on its page. Always screen against the official lists.

An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.

[Read the methodology →](https://elucidate.co/directory/methodology)

Registers for this page

-   **EBA PSD2 Register**—European Banking Authority (EBA) · [source ↗](https://euclid.eba.europa.eu/register/pir/search) as at 25 September 2026
-   **ESMA interim MiCA register of crypto-asset service providers**—European Securities and Markets Authority (ESMA) · [source ↗](https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica) as at 25 September 2026
-   **Ownership and group**—GLEIF Level 2 relationship records (accounting consolidation), matched by LEI.
-   **Overview, authorisation, partners, products, leadership and events**—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.

## Assess the financial crime risk behind a licence

A licence records what an institution is authorised to do; it does not assess it. The [Elucidate FinCrime Index (EFI)](https://elucidate.co/ratings) is an independent score of the financial crime risk of banks and payment institutions.

[Book a demo](https://elucidate.co/demo-request)

Licence and registration data are drawn from the public registers of the regulators named on each page and shown for information only; the official register is always the authority. LEIs and ownership are from GLEIF. Directory and gpi data are drawn from SWIFT's public sources. SWIFT, Swift gpi and UETR are trademarks of S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. Elucidate is not affiliated with, endorsed by or sponsored by SWIFT or any regulator named here. Elucidate does not provide payment or other financial services.