The second largest stock exchange in Germany, Boerse Stuttgart is under the process of creating an ICO platform, a trading venue and custody for services similar to cryptocurrency. This move came following the creation of the BISON crypto-trading app.
The stock exchange giant’s recent announcement said
“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.”
Alexander Höptner, the CEO of Boerse Stuttgart says that the knowledge of the group in the field of technology, regulation and trading models favours it for the creation of a successful infrastructure which would help in creating a profitable crypto-trading system. Furthermore, he stated,
“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.”
BISON application will be launched in this autumn. And it will support trading in Bitcoin, Ethereum, Ripple and Litecoin in the initial phase. Moreover, it will also facilitate the market access along with permitting free and secured trading of the digital assets. Backed up by the traditional stock exchange, this would further become the world’s first application in this base. Post the launch of BISON, the group has also planned on extending to the primary and secondary markets. Alexander Höptner explains
“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.”