According to CoinDesk, Blocknox, a subsidiary of Germany's second largest stock exchange, the Stuttgart Exchange (Boerse Stuttgart), has received the final license from the country's financial regulator BaFin as a cryptocurrency custodian. Boerse Stuttgart Digital will be able to provide institutional investors with crypto Currency trading and trust custody services, these institutions include banks, brokers, asset managers and family offices. Boerse Stuttgart, Europe's sixth-largest stock exchange, launched a crypto trading app in 2018 that saw more than $1 billion in trading volume in 2020.