Tradias Receives Securities Trading Bank License in Germany
Tradias, the Frankfurt-based Crypto provider and Bankhaus Scheich's Digital asset arm, has recently obtained a securities trading bank license from Germany's Federal Financial Supervisory Authority (BaFin). This Development marks a significant milestone for Tradias, allowing the company to operate independently as a securities trading bank.
Prior to acquiring this license, Tradias functioned as Bankhaus Scheich's over-the-counter trading platform for cryptocurrencies and Security tokens, utilizing Bankhaus Scheich's BaFin license. With the new license in place, Tradias is poised to expand its operations and offerings within the digital asset space.
Expansion Plans for 2025
Following the receipt of the securities trading bank license, Tradias successfully concluded a Series A funding round, securing capital for future Growth endeavors. While specific details regarding the funding round remain undisclosed, reports suggest that several family offices have invested in Tradias.
The influx of new capital will enable Tradias to expand its workforce from 90 to 100 employees by the end of the year. Additionally, the company aims to enhance its product offerings and drive European expansion throughout 2025.
Notably, Deutsche Bank's subsidiary DWS previously explored potential Investment opportunities with Tradias. However, the deal did not come to fruition due to Tradias' reliance on Bankhaus Scheich's licenses. With the recent licensing development, such obstacles have been successfully navigated.
Driving Digital Asset Adoption in Germany
Bankhaus Scheich, a prominent Market maker on the Frankfurt Stock Exchange, ventured into the digital asset realm in 2020 with the launch of Tradias. This move signaled Bankhaus Scheich's foray into the evolving landscape of Digital Assets.
In collaboration with Deutsche WertpapierService Bank (Dwpbank), Tradias established a partnership on the wpNex platform in 2023. This strategic alliance opened doors for Dwpbank's extensive customer base to access Bitcoin (BTC) Investments seamlessly.
Furthermore, Tradias made waves in February 2024 by tokenizing the Allianz Securicash SRI Fund on the Polygon Blockchain, marking a significant milestone in the realm of digital asset Tokenization.
Tradias has also cultivated partnerships with key industry players such as neobroker Trade Republic, Dwpbank, and T-Systems. Additionally, the bank facilitates Cryptocurrency sales for various German states, including Hesse.
With a strong foundation in place and bolstered by its recent licensing achievement, Tradias is well-positioned to drive digital asset adoption and Innovation within the German market and beyond.
