German Stock Exchange Confirms “End-to-End” Cryptocurrency Infrastructure
The second-largest stock exchange in Germany still adopts cryptocurrency with its most recent invention, even after launching the BISON crypto-trading app.
Boerse Stuttgart is developing an ICO platform, a trading venue, and custody for cryptocurrencies and related services.
A recent announcement states that “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.”
The CEO of Boerse Stuttgart GmbH, Alexander Höptner notes that the group’s knowledge regarding technology, regulation, and trading models makes it possible for it to establish a successful infrastructure to back the BISON app and create a successful 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 which is expected to be launched this autumn will enable market access and facilitate the free and secure trading of cryptocurrencies, making it the first app in the world to be complemented by a traditional stock exchange. The app will back trading in Bitcoin, Ethereum, Ripple, and Litecoin at the initial stage.
The trading venue for digital assets including Bitcoin will include a separate point 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 comprise of various safety concepts for cryptocurrencies and will already be accessible with the launch of the BISON trading app. The group states that the custody service will then be accessible for in the entire value chain including the app itself. The announcement of a prominent German exchange participating in crypto happens at the same time when the owner of the New York Stock Exchange is launching their individual Bitcoin market.
