After creating the BISON crypto-trading app, the second-largest stock exchange in Germany continues to embrace cryptocurrency with its most recent initiative.
Boerse Stuttgart is creating an ICO platform, a trading venue and custody for cryptocurrencies and related services.
“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 digitisation strategy and is becoming a pioneer for the digital transformation of financial markets and financial products,” stated a recent announcement.
The CEO of Boerse Stuttgart GmbH, Alexander Höptner, states that the group’s know-how in the fields of technology, regulation and trading models favorably positions it for creating a successful infrastructure to complement the BISON app and create a thriving crypto-trading ecosystem.
“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.”
The BISON app due for launch this autumn will facilitate market access and allow free and secure trading of cryptocurrencies, making it the first app in the world to be backed by a traditional stock exchange. The app will support trading in Bitcoin, Ethereum, Ripple, and Litecoin to begin with.
After the launch the group then plans to extend its activities to the primary and secondary markets. The ICO platform will serve to issue digital tokens in cases like corporate financing or to represent rights and assets as well as launching new ICO projects with what the group describes as “standardised and transparent processes.”
The trading venue for digital assets like Bitcoin will comprise a separate aspect of the end-to-end infrastructure.
“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,’ explains Alexander Höptner.
The custody services will include differentiated safety concepts for digital assets and will already be available with the launch of the BISON trading app. The group states that the custody service will later be available for use along the entire value chain as well as the app itself. The news of a major German exchange becoming more involved in crypto coincides with the owner of the New York Stock Exchange launching their own Bitcoin market.
Featured image from Shutterstock.
Follow us on Telegram or subscribe to our newsletter here.
• Join CCN’s crypto community for $9.99 per month, click here.
• Want exclusive analysis and crypto insights from Hacked.com? Click here.
• Open Positions at CCN: Full Time and Part Time Journalists Wanted.