By
Temitope Olatunji
April 18th, 2024
The second-largest stock exchange in Germany Boerse Stuttgart is working on the development of a new crypto trading platform.
This year it has become absolutely clear that the world of traditional finance has finally put up with the idea that cryptocurrencies are full-fledged participants of the system. A great number of traditional financial institutions and stock exchanges worldwide have decided to expand their services and added crypto offerings.
News from Germany
As it has been officially announced, Boerse Stuttgart, which occupies the second position in the list of the largest stock exchanges in Germany and the ninth position in the European ranking, is planning to launch a crypto trading platform. It is expected that it will be done by the second quarter of 2019.
In order to enable investors in the public market to trade crypto assets, in the nearest future, Boerse Stuttgart will closely work with solarisBank. This collaboration will allow to build the necessary end-to-end infrastructure for operations with cryptocurrencies. solarisBank will also serve as Boerse Stuttgart’s banking partner in the crypto-related aspect.
Speaking about their new imitative CEO of Boerse Stuttgart GmbH, Alexander Höptner, noted:
“With its combination of technology and banking expertise, solarisBank is a great partner for us to offer central services along the value chain for digital assets. solarisBank’s Blockchain Factory supports us in taking trading in cryptocurrencies and tokens to the next level and in setting new standards in transparency and reliability.”
This year, in August, Coinspeaker already reported about Boerse Stuttgart’s intentions to get deeper involved into the crypto sphere and to create a “multilateral regulated trading venue”. This platform is aimed at allowing token issuers to conduct their ICOs and trade tokens on the secondary market.
At the current moment, it is known that Bitcoin (BTC) and Ethereum (ETH) will be among the coins available on the cryptocurrency platform. Nevertheless, after the launch of the above-mentioned ICO platform, the list may become much longer.
Höptner hopes that thanks to their cooperation with solarisBank’s Blockchain Factory they will be able to take “trading in cryptocurrencies and tokens to the next level “ and to set “ new standards in transparency and reliability”.
Benefits for the European Crypto Market
Despite a great number of extremely talented teams and highly-developed infrastructure, Europe hasn’t managed to become the largest crypto market yet. The leading positions belong to such markets as Singapore, Japan, South Korea and the U.S.
Nevertheless, over the past months, European countries such as the U.K. and France have started to pay much more attention to cryptocurrencies due to the rise of Bitcoin trading robots such as the Bitcoin Profit in countries like Germany. European crypto exchanges have started to gain momentum and are ready to compete with the recognized world’s leaders.
In such a situation the development Boerse Stuttgart’s a cryptocurrency trading platform can become a new engine of the local crypto market growth.
Moreover, speaking about the development of the European stock exchanges, it’s worth mentioning that this November Amun Crypto got an approval from the Swiss Exchange (SIX) to operate the first crypto ETP in the country.