European broker FlatexDegiro is expected to offer clients in Austria and Germany access to trading major cryptos via their flatex accounts by the end of Q3 2022.
Customers will initially have a chance to trade Litecoin, Bitcoin, Bitcoin Cash, Ethereum, Chainlink (LINK), Ripple, and Uniswap on Boerse Stuttgart’s Bison retail platform. They will have access to more currencies and other European markets that will be added on a phased basis.
Blocknox, a subsidiary of Boerse Stuttgart Group, is tasked with taking care of the custody of cryptos on an escrow basis, while Solarisbank handles Bison’s free-of-charge euro accounts.
CEO of FlatexDegiro, Frank Niehage, commented:
“Cryptocurrencies add a key element to our already very broad product range. Together with the Robo-Advisory offering planned for summer 2022 via our partner Whitebox, flatexDegiro will offer its customers the most comprehensive product range of all European online brokers. For us, taking this step with such a renowned and trustworthy partner as Boerse Stuttgart Group was an indispensable requirement for the sustainable protection of our customers, especially in such a young and volatile asset class as cryptocurrencies.”
The biggest retail online broker in Europe, FlatexDegiro, now services over two million clients, for whom it processed 91 million securities transactions last year. Within the coming five years, the firm has set a target of reaching up to eight million accounts and 350 million transactions annually.
