Bullish Group secures cryptoasset licences in Germany, names new managing director
US-headquartered Bullish Group has secured a trio of licences to operate cryptoasset trading and custody services in Germany, and has hired a new managing director to help guide its launch in the country.
Bullish Group secures licences in Germany from BaFin
The German Federal Financial Supervisory Authority (BaFin) granted Bullish Group’s German digital asset trading business cryptoasset custody, proprietary trading, and principal brokerage licences on 20 December, the company revealed this week.
Bullish says the licences will enable the company to “expand its services across the European Economic Area under the MiCA regulatory framework“.
Bullish has kickstarted its market launch by signing Frankfurt-headquartered securities trading bank Tradias as the first client of its digital assets trading services in Germany.
Tradias, founded in 2018, operates as a trading house for crypto and digital asset services, and serves banks, neobrokers, fintechs, corporates, asset managers, family offices, and public sector entities.
To guide the growth of its client roster in Germany, Bullish has hired Marco Bodewein as managing director of its German business. Bodewein previously served on the board of crypto trading specialist Futurum Bank AG and was also previously CEO of Bitcoin Group SE.
