Stuttgart Exchange Group will merge its cryptocurrency business with digital asset trader Tradeas (based in Frankfurt), forming a new unit of approximately 300 employees jointly managed by the two companies.
According to Bloomberg, the deal is expected to facilitate growth in the volatile cryptocurrency market, based on Tradeas's remarkable valuation and the merged entity.
- Stuttgart Exchange Group merges its cryptocurrency business with Tradeas.
- The new unit has approximately 300 employees, co-managed by two leadership teams.
- Tradeas is valued at approximately 200 million EUR; the consolidated entity is valued at over 500 million EUR.
Merger deal and new unit size
Stuttgart Exchange Group will merge its cryptocurrency business with Tradeas to create a new division under the joint management of both companies.
Tradeas is a digital asset trader based in Frankfurt. Following the merger, the new division is expected to bring together around 300 people, reflecting the significant scale of operations for cryptocurrency within the ecosystem of a German stock exchange operator.
The governance structure is described as jointly managed by the existing management teams of both parties. This indicates an integrated model based on combining traditional market operational capabilities and expertise in digital asset trading.
Valuation and growth drivers in the cryptocurrency market
Sources familiar with the matter say the deal values Tradeas at around €200 million ($238 million) and the merged entity at over €500 million.
Stuttgart Exchange CEO Matthias Voelkel noted the highly dynamic nature of the cryptocurrency market. He stated that this move aims to create optimal conditions for growth in this market, as exchange infrastructure businesses seek to expand and strengthen their position in the digital asset sector.
