Second-Largest Stock Exchange In Germany To Develop End-To-End Infrastructure For Cryptocurrencies
Last week, the second-largest stock exchange in Germany, Boerse Stuttgart, proudly informed the world about its intentions to boost its support for cryptocurrencies by launching BISON, a commission-free cryptocurrency trading app, an ICO platform, and solutions for safe custody.
The first time when Boerse Stuttgart talked about its upcoming BISON app was on April 13th, 2018, when the Boerse Stuttgart Digital Ventures and Sowa Labs, two branches of the Boerse Stuttgart, announced that BISON “is the first crypto app in the world to have a traditional stock exchange behind it.”
According to the BISON website, the first version of the cryptocurrency trading app would only support Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and XRP (XRP). However, more cryptos would be added in the future.
To have an idea on how the app would look like, here is a screenshot, courtesy of Boerse Stuttgart.
Boerse Stuttgart plans to develop end-to-end infrastructure for cryptocurrencies
Boerse Stuttgart Group, a subsidiary of Boerse Stuttgart, works on building a more advanced end-to-end infrastructure for cryptocurrencies than previously thought.
Boerse Stuttgart Group is creating an end-to-end infrastructure for digital assets. After the start of cryptocurrency trading via BISON, there will soon be a platform for initial coin offerings (ICOs), a multilateral trading venue for cryptocurrencies as well as solutions for safe custody. Boerse Stuttgart Group thus continues to pursue its digitization strategy and is becoming a pioneer for the digital transformation of financial markets and financial products.
Boerse Stuttgart Group
The end-to-end infrastructure would be implemented in three steps.
First, an ICO platform would launch and “will allow the issuance of digital tokens, for corporate financing or to represent rights and assets, for instance.” Then, a “multilateral and regulated trading venue for cryptocurrencies” would roll out, permitting second market trading of those tokens released via the ICO platform.
Finally, solutions for safe custody for cryptocurrencies would be introduced and the services “will include differentiated safety concepts for digital assets and will already be available for the start of BISON.”
The aim of the Boerse Stuttgart’s end-to-end infrastructure for cryptocurrencies is to boost institutional investors interest in cryptos across Europe.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.