Global financial markets

Boerse Stuttgart Digital taps into the Italian market

28.11.2023

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With its entry into the Italian market, Boerse Stuttgart Digital is taking the next step at the European level. Boerse Stuttgart Digital offers institutional investors such as banks and funds in Italy the opportunity to use the regulated, secure, and transparent solutions in the field of cryptocurrencies and digital assets. 

The digital asset market in Italy 

Cryptocurrency sales have been steadily increasing in Italy for years. While it was still 89.6 million euros in 2020, analysts expect it to rise to 628.7 million euros by 2028. Another study shows that around 11 percent of people in the Mediterranean state already own cryptocurrencies. 

Of these individuals, 52 percent prefer1 to trade cryptocurrencies through established financial service providers or their favorite banking app. The figures demonstrate that interest in cryptocurrencies is gradually increasing in Italy, which is attracting financial institutions to the scene and demanding regulated offerings that they can provide to their customers. 

Market entry of Boerse Stuttgart Digital in Italy 

For this reason, Boerse Stuttgart Digital’s goal is to drive the adoption of digital finance in Italy, while complying with to the latest European and Italian regulatory updates in the financial sector. With integrated solutions and an established infrastructure, Boerse Stuttgart Digital offers easy, reliable, and secure access to cryptocurrencies. Boerse Stuttgart Digital Custody is licensed as a crypto custodian by the German Federal Financial Supervisory Authority (BaFin) for its business operations. 

Luciano Serra, Country Manager Italy at  Boerse Stuttgart Digital, also sees a lot of potential for his home country as far as institutional trading in crypto assets is concerned: "We are at a turning point thanks to the progressive regulations in the crypto ecosystem such as the Markets in Crypto-Assets Regulation (MiCAR) and also the DLT Pilot Regime. Some of the most important institutions in traditional finance, such as banks, have launched projects to establish their first crypto offerings – and this will then animate other institutions as well. The hardest part is always breaking the ice, which is the responsibility of the "pioneers". Their competitors are then under pressure to act and are also looking at the possibilities. So, the next 18 months are going to be really interesting as a new regulated market has to be established." 

The basis for the market entry in Italy was the successful registration of OAM (Organismo Agenti e Mediatori), thanks to which Boerse Stuttgart Digital, as part of Europe's sixth-largest exchange group (Boerse Stuttgart Group), is now also becoming an infrastructure partner for Italian financial institutions. Specifically, banks, brokers and asset managers in Italy will be provided with exchange, custody, and brokerage solutions, which offer their customers secure and fully regulated access to cryptocurrencies. 

For Country Manager Luciano Serra, entering the market is a logical step when looking at the crypto market: “Italy is one of Europe’s leading economies, with a solid and developed banking system. We have seen immense potential to enhance our position as a regulated and trusted partner for Italian financial institutions, as they are highly aware of the potential of blockchain technology, crypto, and digital assets. We focus on the Italian market as institutional clients are increasingly interested in business opportunities in digital assets and crypto, provided they have a partner they can trust. We are glad that they show appreciation for Boerse Stuttgart Digital as a regulated infrastructure partner.” 

The right decision at the right time 

In an insightful interview about the market entry, Luciano Serra also expresses his enthusiasm about what particularly appeals to him about his new role: "Above all, it is the opportunity to contribute to the spread of digital finance in Italy, which is becoming more and more mainstream thanks to the collaboration with traditional players. In the future, there will no longer be two separate worlds with different customers, different providers, and different levels of regulation, but an interconnected and integrated system. I look forward to driving mainstream adoption of the modern capital market and enabling more and more clients to benefit from innovative technologies such as blockchain, digital assets, and tokenization." 

He also looks at the timing of Boerse Stuttgart Digital's decision to expand: "The time is right, as MiCAR will come into force as a new regulation at European level in 2024. This also enables institutions in the traditional financial sector such as banks, brokers, and asset managers to offer products and services related to crypto and digital assets in a regulated environment. In fact, many banks in Italy have now launched projects to be ready for market entry in the second half of 2024." 

Exciting opportunities for banks and institutional investors 

According to Luciano Serra, Boerse Stuttgart Digital is the ideal infrastructure partner for Italian financial institutions looking to enter the world of digital assets: "Thanks to a comprehensive offering along the entire value chain of digital finance with custody, brokerage and trading, tailored to institutional investors, Italian banks can now offer their customers easy and reliable access to digital assets." 

The following applies to institutions that decide to work with Boerse Stuttgart Digital in Italy and other markets: The one-stop-shop services are available as modular infrastructure solutions and are designed entirely around individual needs. "For example, customers can only use custody as a service or combine several solutions, such as brokerage and custody. In this case, they can be integrated into one application, so that all crypto investments can be managed easily, and securely," says Luciano Serra, explaining the concept, which is now available in Italy to all interested banks, funds, family offices, brokers, and other financial institutions. 


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