Boerse Stuttgart Digital Ventures

What Boerse Stuttgart Digital Ventures does

Boerse Stuttgart Digital Ventures is the digital business arm of the Boerse Stuttgart Group, Germany's second-largest stock exchange and largest retail investor exchange. Founded in 2017 and headquartered in Stuttgart, the entity develops innovative digital business models spanning OTC trading in fungible products, cryptocurrency trading, tokenized securities infrastructure, and exchange-traded commodity issuance. It operates through wholly-owned subsidiaries including BISON (a retail cryptocurrency trading application supporting Bitcoin, Ethereum, and other major digital assets), Seturion (a distributed ledger technology-based platform for blockchain settlement of tokenized securities across European capital markets), Euwax AG (Europe's largest marketplace for securitized derivatives), and Boerse Stuttgart Commodities GmbH (issuer of the EUWAX Gold ETC family).

The company's core technology centers on the Seturion distributed ledger platform, which enables tokenized securities settlement using either central bank money or on-chain cash under the MiFID II and DLT Pilot Regime frameworks. In March 2026, Boerse Stuttgart entered a strategic partnership with Nasdaq to connect Nasdaq's European trading venues to Seturion, targeting pan-European post-trade infrastructure with initial focus on structured products and planned expansion to additional issuers, brokers, and financial institutions. The proprietary Euwax Sentiment Index, developed through scientific cooperation with the University of Karlsruhe, provides a unique retail investor sentiment indicator based on DAX leveraged product order flow.

Revenue is generated through transaction-based trading fees across equities, bonds, ETFs, leveraged products, and digital assets, supplemented by listing fees from issuers of structured products and securities. Customer segments include retail investors (served via the main exchange platform and BISON app), issuers and financial institutions (seeking listing and tokenized settlement infrastructure), and market participants and brokers (executing trades and providing liquidity). Pricing for exchange services is not publicly disclosed, with trading and listing rates determined through individual agreements within regulatory frameworks. The firm employs between 251 and 500 people and has not disclosed external funding or revenue figures.

Name

Boerse Stuttgart Digital Ventures

Legal name

Boerse Stuttgart GmbH

Website

https://boerse-stuttgart.de

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

251–500 employees

Short description

Boerse Stuttgart Digital Ventures is the digital arm of Germany's second-largest stock exchange, developing cryptocurrency trading (BISON), tokenized securities settlement (Seturion), and gold ETC products. It serves retail investors, issuers, and financial institutions across European capital markets.

Ownership category

akta.pro rank

Product category

Securities Exchange & Digital Trading Venues

NAICS

Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (52321), Securities and Commodity Exchanges (5232), Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (52316)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Commodity Electronic Trading Platforms (Energy/Metals/Agriculture) (FSAFANAF)

akta.pro secondary industries

Derivatives Trading Venues (perps, futures, options) (FSAPADAE), Retail Crypto Brokerages (Simple Buy/Sell) (FSADAAAB), Index-Tracking Funds, ETPs & Structured Index Products (Crypto) (FSADAHAC)

Keywords

• Securities exchange trading
• Cryptocurrency trading platform
• Tokenized securities settlement
• Exchange-traded commodities
• Structured derivatives marketplace

Headquarters

HQ city

Stuttgart

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Trading Fees: Transaction and trading fees generated from securities trading across the exchange, including stocks, bonds, ETFs, leveraged products, and other financial instruments.
2. Listing Fees: Fees charged to issuers for listing securities and structured products on the exchange.
3. Digital Asset Services: Revenue from cryptocurrency trading services through BISON app, including trading fees for Bitcoin, Ethereum, and other digital assets.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Boerse Stuttgart Digital Ventures develops innovative digital business models for exchange trading and OTC trading in fungible products. As part of the Boerse Stuttgart Group, it operates Germany's largest retail-focused stock exchange, offering trading across equities, bonds, ETFs, leveraged products, investment certificates, commodities (including gold ETCs), and cryptocurrencies via the BISON app, while enabling blockchain-based settlement of tokenized securities through its Seturion distributed ledger platform.

Product overview

Boerse Stuttgart Group (under which Boerse Stuttgart Digital Ventures operates) offers a multi-segment financial marketplace encompassing equities trading, cryptocurrency services, commodity products, and blockchain-based settlement infrastructure. Its core digital products include BISON (a cryptocurrency trading app), Seturion (a distributed ledger-based tokenized securities settlement platform), and the EUWAX Gold ETC product family (EUWAX Gold Core, EUWAX Gold Traceable, and EUWAX Gold II). The group also operates traditional exchange services including equities, bonds, leverage products, ETFs, funds, and structured securities across European markets.

Differentiator

Problem solved

Functional benefit

Brands

• BISON: Cryptocurrency trading application - first platform for cryptocurrency trading backed by a traditional stock exchange
• Euwax
• EUWAX Gold
• Seturion

Products and services

• BISON Cryptocurrency Trading App A cryptocurrency trading application developed by Boerse Stuttgart Group that enables retail users to buy and sell cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple (XRP), Bitcoin Cash, Uniswap (UNI), Chainlink (LINK), Solana (SOL), and Cardano (ADA) via smartphone or web platform. It is the first crypto trading platform backed by a traditional securities exchange.
• Seturion Tokenized Settlement Platform A distributed ledger technology-based settlement platform enabling blockchain-based settlement of tokenized securities across European capital markets. Supports multiple asset classes with settlement using either central bank money or on-chain cash, aimed at reducing fragmentation in Europe's post-trade infrastructure.
• EUWAX Gold Core ETC Physically-backed gold ETC with 100% gold allocation, approximately 1.55 grams of gold per unit, 0.25% annual product costs, tight spreads, and tax advantages after 12-month holding period. Designed for active and long-term investors seeking maximum flexibility and international storage options.
• EUWAX Gold Traceable ETC Physically-backed gold ETC offering transparent gold origin tracking and CO2 footprint visibility. Backed by approximately 1.55 grams of LBMA-standard gold per unit, stored in Germany, Switzerland, and London. Priced in USD with 0.29% annual product costs and tax advantages after 12-month holding period.
• EUWAX Gold II ETC Physically-backed gold ETC with 100% gold allocation stored exclusively in Germany. Each unit represents 1 gram of LBMA-standard gold priced in EUR, with no annual product costs or depot fees, and free physical delivery within Germany from 100g. Designed for long-term buy-and-hold investors prioritizing German storage and cost-free delivery.
• Magnificent 7 (Mag7) Spread-Free Trading A spread-free trading offering for the Magnificent 7 stocks, enabling retail and professional traders to buy and sell with no spread between buy and sell prices. Available daily from 9:00 to 22:00, up to EUR 100,000 per price determination.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• NasdaqcoreStrategic or Co-development Partner · 9 March 2026Strategic partnership to establish pan-European infrastructure for trading and settlement of tokenized securities. Nasdaq will connect its European trading venues to Seturion's distributed ledger technology platform. The collaboration initially focuses on structured products and aims to reduce fragmentation in Europe's post-trade infrastructure while maintaining compliance with MiFID II and DLT Pilot Regime. The companies plan to expand participation to additional issuers, brokers, and financial institutions.
• University of KarlsruheminorStrategic or Co-development PartnerMulti-year scientific cooperation for the development of the Euwax Sentiment Index, which reflects private investor behavior based on DAX leveraged product orders.
• BISON (Cryptocurrency Platform)coreTechnology or IntegrationBISON is the cryptocurrency trading platform developed and operated by Boerse Stuttgart Group, offering trading of Bitcoin, Ethereum, and other major cryptocurrencies via smartphone app and web platform.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Trade Republic: Germany-headquartered retail broker offering commission-free trading in equities, ETFs, and crypto. Competes with Boerse Stuttgart's retail flow and BISON for German retail-investor trading volume.
• Bitpanda: Vienna-based European retail broker and crypto trading platform. Direct competitor to BISON in regulated European crypto and multi-asset retail trading, with overlapping product set and target customer.

Broad incumbents

• Coinbase: Largest US-listed regulated crypto exchange and brokerage. Competes with BISON in retail crypto trading and custody, with deeper liquidity and broader product set globally.
• Nasdaq: Global exchange operator and Boerse Stuttgart's Seturion partner. Competes in European cash equities (Nasdaq Nordic/Copenhagen/Stockholm/Helsinki/Iceland) and powers trading technology across the industry.
• Kraken: Global crypto exchange and brokerage with strong European presence. Direct competitor to BISON in retail and institutional crypto trading across the European market.
• London Stock Exchange Group: Global exchange and financial-market infrastructure operator including London Stock Exchange, Borsa Italiana, and Turquoise. Competes with Boerse Stuttgart for pan-European listings, ETF, and structured-products flow.

Direct peers

• Euronext: Pan-European exchange operator running venues in Amsterdam, Paris, Brussels, Dublin, Milan, Lisbon, and Oslo. Directly comparable multi-asset exchange business competing for European listings, ETF, and derivatives flow.
• Deutsche Börse: Germany's largest exchange operator running the Frankfurt Stock Exchange, Eurex derivatives, and Clearstream post-trade infrastructure. Direct competitor to Boerse Stuttgart in equities, derivatives, and post-trade services within Germany and Europe.

Regional players

• SIX Swiss Exchange: Swiss exchange and post-trade operator. Comparable in scale and product mix, focused on Swiss equities, ETFs, and structured products; competes with Boerse Stuttgart in adjacent DACH-region flow.
• BME (Bolsas y Mercados Españoles): Spanish exchange operator offering equities, derivatives, fixed income, and ETF trading. Comparable mid-sized European exchange model with multi-asset venue and clearing services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCiB6I_OMIYRUU6O3aGNxgjw
• Facebookfacebook.com/boersestuttgart/?locale=de_DE
• LinkedInde.linkedin.com/company/boersestuttgart
• Instagraminstagram.com/boersestuttgart
• Xx.com/boersestuttgart

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Boerse Stuttgart Digital Ventures