Tradias, a Frankfurt-based crypto provider and the digital asset arm of Bankhaus Scheich, has recently obtained a securities trading bank license from Germany’s Federal Financial Supervisory Authority (BaFin). This new license allows Tradias to operate independently as a securities trading bank, expanding its services beyond being Bankhaus Scheich’s over-the-counter trading platform for cryptocurrencies and security tokens. The company successfully closed a Series A funding round, securing capital for further growth, with plans to expand its workforce and enhance its product offerings.
The company did not disclose specific details about its latest funding round, but it is known that several family offices have invested in Tradias, enabling the company to grow its team from 90 to 100 employees by the end of the year. Previously, Deutsche Bank’s subsidiary DWS had considered investing in Tradias, but the deal fell through due to Tradias’ dependency on Bankhaus Scheich’s licenses. With the new securities trading bank license and enhanced capital base, Tradias aims to drive European expansion in 2025 and offer a wider range of products to its customers.
Bankhaus Scheich, a prominent market maker on the Frankfurt Stock Exchange, ventured into digital assets in 2020 and launched Tradias to tap into the growing crypto market. In 2023, Tradias partnered with Deutsche WertpapierService Bank (Dwpbank) to allow its 1,200 customers to access Bitcoin investments through the wpNex platform. In February 2024, Tradias made waves by tokenizing the “first” money market fund on the Polygon blockchain, the Allianz Securicash SRI Fund. The company has also established partnerships with neobroker Trade Republic, Dwpbank, T-Systems, and even some German states that sell their cryptocurrency holdings through the bank.
Tradias’ achievement of obtaining a securities trading bank license marks a significant milestone in its growth and expansion plans. With its newfound independence, the company is poised to drive digital asset adoption in Germany by offering a secure and regulated platform for trading cryptocurrencies and security tokens. The partnership with Dwpbank and the successful tokenization on the Polygon blockchain demonstrate Tradias’ commitment to innovation and leveraging cutting-edge technologies to provide unique investment opportunities to its clients.
As Tradias embarks on its European expansion journey in 2025, the company aims to further solidify its position as a key player in the digital asset space. The strengthening of its workforce and product offerings will enable Tradias to cater to a broader customer base and meet the growing demand for crypto-related services in the region. With the backing of its investors and the support of key partnerships, Tradias is well-positioned to capitalize on the evolving landscape of digital assets and continue to drive innovation in the financial industry.
In conclusion, Tradias’ receipt of a securities trading bank license and successful funding round represent significant milestones for the company as it sets its sights on expansion and growth in the European market. With a focus on driving digital asset adoption in Germany and offering innovative investment opportunities, Tradias is well-equipped to emerge as a leading player in the crypto industry. By leveraging its partnerships, regulatory compliance, and strategic vision, Tradias is poised to make a mark in the evolving landscape of digital finance and establish itself as a trusted and reliable platform for trading cryptocurrencies and security tokens.
