Boerse Stuttgart Group, which operates Germany’s second-largest stock exchange, has launched a regulated crypto trading platform, in partnership with Solarisbank. Customers can connect directly to the new exchange and trade bitcoin against the euro.
German Regulated Cryptocurrency Trading Platform
The group which owns Germany’s second-largest stock exchange has announced that trading has started on its newly launched digital asset exchange platform, Boerse Stuttgart Digital Exchange (BSDEX). The new venture is regulated under the German Banking Act and will allow users to trade the euro/Bitcoin pair for now.
BSDEX will open for German retail and institutional investors slowly followed by the entire EU, the exchange noted. Like other cryptocurrency exchanges, trading will be open nearly 24/7.
Boerse Stuttgart Sees Potential in Cryptocurrency
Dirk Sturz, the CEO of Boerse Stuttgart Digital Exchange said that “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…”
A Berlin-based fintech company with a full German banking license, Solarisbank is BSDEX’s technology and banking partner responsible for payment processing and the custody of customers’ cash deposits in euro. The bank is authorised and regulated by the Federal Financial Supervisory Authority (Bafin) and the European Central Bank (ECB).
“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,” said Peter Großkopf, CTO at BSDEX, in a statement.