In an attempt to pioneer “digital transformation” of the country’s financial industry, Boerse Stuttgart, Germany’s second largest stock exchange will launch an end-to-end platform for digital assets. This ecosystem will include a platform for ICOs (initial coin offerings) and multilateral trading of cryptocurrencies- all “under one roof.”
A media release on the stock exchange’s official website mentioned-
“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.”
This initiative has been launched just three months after the development of BISON, the crypto trading app, by Boerse Stuttgart. From a mobile app for trading cryptocurrencies, the German stock exchange is now looking forward to designing a full-fledged ecosystem to embrace cryptocurrencies and ICOs.
It is the in-depth know-how in the fields of regulation, technology, and trading models, along with an established market that will allow the Boerse Stuttgart Group to achieve transformation. “On this basis, we can offer central services along the value chain for digital assets, all under one roof. Investors and market participants know that Boerse Stuttgart Group stands for quality, transparency, and reliability. As a Germany-based provider, we want to transpose this standard into the digital world. We will help to promote acceptance of digital assets,” shared Alexander Höptner, CEO, Boerse Stuttgart.
After the launch of BISON in fall to foster free, secure and easy trading of cryptocurrencies, the Group will further extend its offerings to the primary and secondary markets. Its ICO platform will be launched to complement the mobile app and enable uncomplicated issuance of digital tokens along with transparent and standardized processes.
“At the trading venue tokens issued via our ICO platform can be traded on the secondary market. This is an important success factor for ICOs. At the same time we are responding to demand from both retail and institutional investors for a regulated and reliable environment for trading with cryptocurrencies,” added Höptner about Boerse’s trading venue for cryptocurrencies.
The crypto community has welcomed this announcement as a positive sign for cryptocurrencies and considering it to be indicative of bullish sentiment. A Reddit user commented-
“Major stock exchanges in the world are now seriously going all in to becoming crypto exchanges. This is a positive for the nascent asset class.”