Boerse Stuttgart Digital, Tradias Complete 300-Staff Merger

Christopher Beck, founder of Tradias, and Ulli Spankowski, managing director of Boerse Stuttgart Digital, will lead the business as co-CEOs. The statement said splitting the CEO role between the heads of both companies reflects the equal footing on which the transaction was structured.

Client bases barely overlap between the two firms. Boerse Stuttgart Digital works with DZ Bank, DekaBank, Intesa Sanpaolo and Société Générale-FORGE. Tradias serves flatexDEGIRO and dwpbank. European government institutions are also on its client list, and the Tradias desk provides trading and market-making across more than 150 cryptocurrencies and other digital assets.

The merger is part of a consolidation strategy in European institutional crypto infrastructure, the companies said. Banks and asset managers are demanding more regulated digital asset services, and Europe's rules are gaining clarity and consistency.