"it means that bitcoins has protection on balances held at the exchange."

IF THE ABOVE WERE TRUE...

It would be a big deal for anyone who has a large amount of coins because
of the €100,000 protection European bank accounts get.

BUT THE REAL TRUTH IS HERE...

https://bitcoin-central.net/s/aqoba-partnership

It sounds like the equivalent of getting a credit/debit card processing account.