Germany's second largest stock exchange in terms of trading volumes has launched a fully regulated platform, Boerse Stuttgart.Digital Exchange (BSDEX) for digital asset trading.
The Boerse Stuttgart Digital Exchange (BSDEX) is governed by the Banking Act. Bidding on the site started on Monday, September 23.
Only one trading is currently availablethe pair is Bitcoin to the Euro. By the end of this year, it is planned to list ether, lightcoin and rip, which will be available in tandem with the euro. The next year, tokenization of traditional assets is planned.
Plans to create a regulated cryptocurrencyThe sites were first announced in December 2018. At the same time, representatives of the exchange operator claimed that the approximate time frame for the full launch of the platform was the first half of this year. However, the deadlines had to be shifted a little.
Access to BSDEX will gradually getretail and institutional investors throughout the EU. Trading will be available 7 days a week around the clock, in fact, like on many other cryptocurrency exchanges.
“Cryptocurrency market capitalization is estimatedin billions of dollars. Over time, more and more digital assets will appear on the blockchain, — said the CEO of the exchange, Dirk Sturz. “We plan to become leaders in trading these assets in Europe.”
To implement its plans, the Stuttgart Stock Exchange signed an agreement with SolarisBank, which will process payments and store funds in euros.
“With the launch of BSDEX, any retail oran institutional investor will be able to gain access to digital assets and the opportunity to conduct flexible and relatively low-cost trading. According to our estimates, blockchain will significantly change the current financial industry and we do not want to stand on the sidelines while watching the development of promising technology, so we decided to use it to create a trading platform of the future,” — noted BSDEX technical director Peter Großkopf.
As a reminder, in April, the Nordic Growth Market (NGM) division of the Stuttgart stock exchange launched exchange-traded products (ETPs) that are pegged to the value of Litecoin and Ripple.
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