Germany's Börse Stuttgart to merge crypto business with Tradias

Börse Stuttgart Group, Europe's sixth-largest exchange group, is merging its cryptocurrency business with Frankfurt-based digital asset trading firm Tradias, Bloomberg reported. According to people familiar with the matter, Tradias was valued at around €200 million ($216 million), with the combined entity's enterprise value assessed at over €500 million ($540 million). The specific terms of the deal were not disclosed. The merged company will have approximately 300 employees and be run by a joint management team from both Börse Stuttgart and Tradias.