Bank

Bitcoin

Tradias, the digital assets arm of the German-licensed and regulated Bankhaus Scheich, has received a securities trading bank license from the German Federal Financial Supervisory Authority (BaFin). In addition, Tradias just completed a Series A round of funding.
Tradias had leveraged Bankhaus Scheich’s BaFin license previously.&nbsp;
<h2 id="tradias-heading-out-on-its-own">Tradias heading out on its own?</h2>
Tradias hinted broadly in the announcement of its license that it had expansion plans. Tradias CEO Michael Reinhard said the license would “open a new chapter of accelerated growth and solidify our position as a leading regulated player in the digital assets space." The announcement continued:
<blockquote>
 “With our new status as a licensed securities trading bank and strengthened equity base, we will drive our European expansion in 2025, upgrade our product offering, and continue to innovate in the fast-evolving world of digital assets.”&nbsp;
</blockquote>
Bankhaus Scheich created Tradias in 2020 as an over-the-counter trading platform for cryptocurrencies and security tokens and a market maker providing crypto loans and liquidity services.
The firm did not provide any information about its funding round, aside from calling it “successful” and saying it has a “strong balance sheet.” Deutsche Bank’s asset management arm DWS Group was&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/deutsche-bank-s-dws-eyes-2-german-crypto-firms-for-investment-report" rel="noopener noreferrer nofollow" target="null" text="null" title="null">reportedly interested in investing</a>&nbsp;in tradias in 2023.&nbsp;
Bloomberg&nbsp;<a data-ct-non-breakable="null" href="https://www.bloomberg.com/news/articles/2024-10-07/krypto-handelshaus-tradias-sammelt-geld-ein-bekommt-eigene-lizenz?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;utm_content=deutsch" rel="noopener noreferrer nofollow" target="null" text="null" title="null">reported</a>&nbsp;that the Series A funding came “mainly from family offices as well as from wealthy private investors from the German-speaking world”&nbsp;and the fresh money would allow it to increase its staff size from 90 to 100 by yearend.&nbsp;
Related:&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/german-banks-slowly-adopt-crypto-mostly-for-institutional-investors" rel="noopener noreferrer nofollow" target="null" text="null" title="null">German banks slowly adopt crypto, mostly for institutional investors</a>
<h3 id="active-in-germany">Active in Germany</h3>
Bankhaus Scheich is one of three institutional liquidity providers for the regulated Boerse Stuttgart exchange. It is the second-largest exchange in Germany and earlier in October&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/boerse-stuttgart-blockchain-secondary-market-transactions-ecb" rel="noopener noreferrer nofollow" target="null" text="null" title="null">participated in testing</a>&nbsp;secondary market transactions using blockchain technology with the European Central Bank and six German banks.
<figure><img alt="Tradias secures funding, BaFin license, eyes European expansion" src="https://s3.cointelegraph.com/uploads/2024-10/01926d42-3c7f-7788-ba43-ef95de8b17db" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/btcecho/status/1843227194522300460%20" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://x.com/btcecho/status/1843227194522300460 ">BTC Echo</a>
 </figcaption>
</figure>
Bankhaus Scheich&nbsp;<a data-ct-non-breakable="null" href="https://www.forbes.com/sites/michaeldelcastillo/2023/03/16/legal-money-laundering-how-a-german-bank-is-cleaning-tainted-bitcoin-and-other-dirty-cryptos/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">cooperated</a>&nbsp;with German prosecutors in the state of Hesse to sell seized Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BTC</a>) earlier in 2024.&nbsp;
Tradias&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/german-dwpbank-to-offer-bitcoin-trading-to-1-200-affiliate-banks-on-new-platform" rel="noopener noreferrer nofollow" target="null" text="null" title="null">partnered in 2023 with</a>&nbsp;securities processor Deutsche WertpapierService Bank (Dwpbank) on its wpNex platform that offers Bitcoin to account holders at the 1,200 banks that Dwpbank serves.&nbsp;
Magazine:&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/solana-printing-tokens-bots-subsidies/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">What Solana’s critics get right… and what they get wrong</a>

Tradias secures funding, BaFin license, eyes European expansion

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