Boerse Stuttgart Digital and institutional crypto trading firm Tradias have completed their merger after clearing the required ownership control procedure, creating a combined digital asset infrastructure unit with about 300 employees.
The transaction was first announced in February, when the companies agreed to combine their regulated crypto businesses and expand their services for banks, brokers and other financial institutions across Europe.
The merged business will operate under the Boerse Stuttgart Digital name, while Tradias will remain the brand for trading services, according to a Wednesday announcement.
The unit will provide trading, custody, staking and tokenization services and will be headquartered in Frankfurt and Stuttgart, with additional locations in Athens, Beirut, Berlin, Dubai, Madrid, Milan and Ljubljana.
Tradias founder Christopher Beck and Boerse Stuttgart Digital managing director Ulli Spankowski will serve as co-CEOs.
Boerse Stuttgart Digital serves institutions including DZ Bank, DekaBank, Intesa Sanpaolo and Société Générale-FORGE. Tradias works with clients including flatexDEGIRO, dwpbank and European government institutions.
Tradias provides trading and market-making services for more than 150 cryptocurrencies and other digital assets. Financial terms of the transaction were not disclosed.
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Source: Cointelegraph / Yohan Yun