German Stock Exchange Will Launch A Crypto Trading Platform

German Stock Exchange Will Launch A Crypto Trading Platform

According to a media release, the German Stock Exchange Boerse Stuttgart Group will launch a cryptocurrency trading platform during 2019. Boerse Stuttgart Group is the second-biggest stock exchange in Germany.

German stock-exchange is launching a crypto trading platform

Toshi Times covered a story earlier this year where Boerse announced their plans of starting the crypto trading floor.

The announcement arrived on Wednesday, December 12th. Boerse Stuttgart Group has come further in their plans and will now launch a cryptocurrency trading platform. They have partnered with the local fintech company SolarisBank to engineer the infrastructure needed. Since SolarisBank also has a banking license, they will be Boerse’s banking partner.

“With its combination of technology and banking expertise, solarisBank is a great partner for us. Together we can offer central services along the value chain for digital assets. solarisBank’s Blockchain Factory supports us in taking trading in cryptocurrencies and tokens to the next level. Also in setting new standards in transparency and reliability” says Alexander Höptner, CEO of Boerse Stuttgart GmbH.

Once the infrastructure is in place, ether and bitcoin will become the first tradable assets. Boerse Stuttgart is also developing an ICO platform. Once it goes live, tokens that are issued there will be available for trading in the secondary market.  

Boerse is building the infrastructure for institutional investors to enter the crypto market

The stock exchange is open for both private and institutional investors. It even facilitates order opportunities that are comparable with securities. Boerse will implement regulation and become a multilateral trading facility (MTF) for the crypto trading venue.

Boerse Stuttgart leads the German market for exchange-based trading in corporate bonds. They are also number one in Europe in the securitised derivatives segment. They have a broad customer base and aims to shape the future by implementing a platform to trade cryptocurrencies.

“Boerse Stuttgart Group and SolarisBank share the ambition to shape the future of the financial industry. A reliable and performant trading venue is a fundamental contribution to our shared vision of a hybrid financial world with both fiat and cryptocurrencies. We are very pleased that Boerse Stuttgart Group chose our Blockchain Factory around Peter Grosskopf and Michael Offermann as its trusted partner”, says Roland Folz, CEO of SolarisBank.

Boerse is not the only stock exchange to offer their customers a way to invest in cryptocurrencies. The Swiss stock exchange announced a while back that they are looking into providing an Exchange Traded Product (ETP). Their clients can invest into the fund which contains bitcoin, ether, xrp, bitcoin cash and litecoin.

Even though the most anticipated ETF recently got postponed once again, adoption of cryptocurrencies is happening all around the world.

Image Source: “Flickr”

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