EU CRYPTO REGISTER · AUTHORISED · LAST VERIFIED
Is Baden-Württembergische Wertpapierbörse GmbH licensed under MiCA in the European Union?
Baden-Württembergische Wertpapierbörse GmbH's European entity (Baden-Württembergische Wertpapierbörse GmbH) is recorded as an authorised Crypto-Asset Service Provider under the EU's Markets in Crypto-Assets Regulation, with its authorisation issued by Germany on 3 July 2025.
Verdict: Baden-Württembergische Wertpapierbörse GmbH appears in the ESMA Register of MiCA-Authorised CASPs.
| Legal entity | Baden-Württembergische Wertpapierbörse GmbH |
|---|---|
| Home Member State | Germany |
| National Competent Authority | Federal Financial Supervisory Authority (BaFin) |
| Authorisation date | |
| Legal Entity Identifier (LEI) | 529900A0WHA0NVXY0G45 |
| Authorised services | Operating a trading platform |
Source: ESMA Register of Crypto-Asset Service Providers. Retrieved 30 June 2026.
About Baden-Württembergische Wertpapierbörse GmbH
Baden-Württembergische Wertpapierbörse GmbH is not a consumer crypto app, bank or broker in its own right. It is the legal entity that acts as the exchange carrier (Börsenträger) behind the Börse Stuttgart Digital Exchange (BSDEX), the crypto trading venue operated within the Börse Stuttgart Group. Its registered office is in Stuttgart, Germany. The BSDEX website markets itself as the official crypto trading platform of Börse Stuttgart, where private clients can buy and sell crypto-assets such as Bitcoin, Ethereum, Litecoin, XRP and Bitcoin Cash against the euro, with trading fees advertised from 0.20% per trade. Sources: bsdex.de, North Data company register
On the regulatory question: under the EU's Markets in Crypto-Assets Regulation (MiCA), the entity Baden-Württembergische Wertpapierbörse GmbH is recorded by ESMA as authorised for a single crypto-asset service - operating a trading platform for crypto-assets. Its national competent authority is the German Federal Financial Supervisory Authority (BaFin). That authorisation is specific: it covers running the trading venue, and it does not by itself extend the MiCA licence of this legal entity to other services such as custody, portfolio management, advice or the placing of crypto-assets. Where research describes custody, savings plans, staking, card products or SEPA deposit arrangements around the wider Börse Stuttgart Digital brand, those functions are attributed to other group entities and partners rather than to this trading-platform operator. Sources: Börse Stuttgart Digital, BaFin consumer notice
One practical caution for users: BaFin has published a consumer warning about a fraudulent operator using a "Stuttgart Exchange" style name, which is not connected to the legitimate Börse Stuttgart Group. Anyone verifying this provider should confirm they are dealing with the genuine BSDEX domain (bsdex.de) and the correctly named legal entity rather than a look-alike. Source: BaFin warning
Which crypto services is Baden-Württembergische Wertpapierbörse GmbH authorised to offer in the EU?
Under its MiCA authorisation issued by Federal Financial Supervisory Authority (BaFin), Baden-Württembergische Wertpapierbörse GmbH (Baden-Württembergische Wertpapierbörse GmbH) is approved to provide the following services to EEA residents. Each service is defined in Article 3(1)(16) of Regulation (EU) 2023/1114.
Which services is Baden-Württembergische Wertpapierbörse GmbH not authorised to offer?
Baden-Württembergische Wertpapierbörse GmbH's MiCA licence does not cover: Custody, Trading platform, Exchange for funds, Exchange for crypto, Order execution, Placing, Order R&T, Advice, Portfolio mgmt, Transfer services. These services may still be offered by other authorised providers, or by Baden-Württembergische Wertpapierbörse GmbH under a different regulatory framework (for example, derivatives may fall under MiFID II rather than MiCA). Source: ESMA Register, retrieved 30 June 2026.
See other MiCA-authorised exchanges by service:
Why is Baden-Württembergische Wertpapierbörse GmbH licensed in Germany?
Germany's BaFin runs a strict, banking-style authorisation model. Trade Republic, which already held a German banking licence, was authorised in April 2025. BaFin previously refused Binance's German licence application in 2023, leading Binance to withdraw from the German market. Source: Federal Financial Supervisory Authority (BaFin).
| National Competent Authority | Federal Financial Supervisory Authority (BaFin) |
|---|---|
| Investor compensation | EdW (compensation scheme for securities firms) plus bank-deposit cover where applicable. |
| Regulatory context | BaFin's banking-style scrutiny is the highest barrier among MiCA NCAs. |
What does this mean for users of Baden-Württembergische Wertpapierbörse GmbH in the EU?
If you transact through Baden-Württembergische Wertpapierbörse GmbH's EEA-authorised entity (Baden-Württembergische Wertpapierbörse GmbH), the protections introduced by MiCA apply to your relationship from onwards. In practical terms this means: client crypto-assets are ring-fenced from the exchange's own funds (Article 70 MiCA), the authorised entity holds prudential capital, has formal complaint-handling procedures, and is subject to transparency obligations on fees and order execution. Source: Regulation (EU) 2023/1114.
One thing to verify yourself: the legal entity you contract with day-to-day must match the entity in the ESMA register. Some global exchanges operate multiple legal entities under one brand. Confirm in Baden-Württembergische Wertpapierbörse GmbH's terms of service that your contracting entity is Baden-Württembergische Wertpapierbörse GmbH, not a non-EEA affiliate.
Which MiCA-authorised exchanges are alternatives to Baden-Württembergische Wertpapierbörse GmbH?
Three MiCA-authorised providers to consider. Drawn from the ESMA register, never paid placement.
Related reading
Understand the regulatory context behind Baden-Württembergische Wertpapierbörse GmbH's entry on the register:
Frequently asked questions about Baden-Württembergische Wertpapierbörse GmbH and MiCA
Is Baden-Württembergische Wertpapierbörse GmbH licensed under MiCA?
Yes. Baden-Württembergische Wertpapierbörse GmbH appears in the ESMA Register of MiCA-Authorised Crypto-Asset Service Providers, with its authorisation issued by the competent authority of Germany.
Which EU countries can Baden-Württembergische Wertpapierbörse GmbH serve under this licence?
A MiCA authorisation in one EEA member state permits passporting across all EEA member states, subject to a notification process to each host-state regulator.
Are my crypto-assets on Baden-Württembergische Wertpapierbörse GmbH protected under MiCA?
MiCA introduces ring-fencing of client crypto-assets, prudential capital requirements for the authorised entity, complaint-handling obligations, and conduct rules. It does not provide a deposit-guarantee scheme equivalent to bank deposit insurance.
What's the difference between the authorised entity and the global brand?
Some global exchanges operate multiple legal entities. The MiCA authorisation applies only to the specific legal entity in the ESMA register, not to the global brand. Verify the contracting entity in Baden-Württembergische Wertpapierbörse GmbH's terms of service.
Where can I check the official record?
The ESMA register publishes the authoritative list and updates it weekly. The direct link to Baden-Württembergische Wertpapierbörse GmbH's entry is on this page under 'Sources'.
Sources
- ESMA Register of Crypto-Asset Service Providers
- Federal Financial Supervisory Authority (BaFin)
- ESMA MiCA Register - Baden-Württembergische Wertpapierbörse GmbH (Baden-Württembergische Wertpapierbörse GmbH)
- Baden-Württembergische Wertpapierbörse GmbH official website
- BaFin consumer warning on fraudulent Stuttgart Exchange
- North Data register entry, Baden-Württembergische Wertpapierbörse GmbH (HRB 18609)
This page is updated weekly. Last verified . If you believe any information on this page is inaccurate, write to our contact page.