PANews reported on February 13 that, according to Bloomberg, the Stuttgart Exchange Group, the German stock exchange operator, will merge its crypto business with Frankfurt-based digital asset trader Tradeas. The new division will house approximately 300 employees and will be jointly managed by the two companies' management teams.

Sources familiar with the matter said the deal values ​​Tradeas at approximately €200 million ($238 million), and the combined entity at over €500 million. Stuttgart Exchange CEO Matthias Voelkel stated that the crypto market is highly dynamic, and this move aims to create optimal conditions for growth in this market.