Germany’s second-largest stock exchange, Exchange Boerse Stuttgart has announced the opening of a fully regulated digital asset exchange, starting on 23 September. This makes the Digital Exchange of the Stuttgart Stock Exchange (BSDEX) the first regulated trading venue in Germany, where investors do not need to use third parties anymore.
Boerse Stuttgart Digital Exchange GmbH (BSDEX) To Add More Altcoins in the Future
Bitcoin is the first coin added, and euro/Bitcoin (BTC) trading will be open almost 24/7. The exchange looks forward to adding ethereum, litecoin, and XRP in 2019. In 2020, tokenized assets will also be added.
CEO Dr. Dirk Sturz stated:
“The market in cryptocurrencies is worth billions, and more digital assets will emerge on the basis of blockchain. Our goal is to build up the leading European trading venue for those assets.”
In the beginning, only selected clients will be able to use the trading, but in the future, more people will get access to it.
Boerse Stuttgart is also a partner with SolarisBank AG which provides fiat custodial services and also processes euro payments.
Former CTO of solarisBank AG, Peter Großkopf, who is now BSDEX’s CTO, stated:
“BSDEX will give retail and institutional investors direct access to digital assets and provide flexible and relatively low-cost trading. We believe blockchain is set to bring about significant changes in the financial industry, and we want to leverage its potential to create the trading venue of the future.”
The trading venue will first provide regular market and limit orders, but in the future, it will include more options.
In January this year, Boerse Stuttgart Group launched the crypto-trading app Bison, which should make it easier for investors to access cryptocurrencies. The mobile app also offers other altcoins trading with euros (Bitcoin, Ethereum, Litecoin, and Ripple).
Reports show that BSDEX’s trading platform will make trading tokenized assets much more accessible. Boerse is looking forward to partner with Swisscom and to launch a trading platform in Switzerland.