- 13 December 2018
- Posted by: admincryptovalues_wp
- Category: Cryptovalues News, World News
Germany’s second-largest stock exchange, Boerse Stuttgart Group, is set to launch a cryptocurrency trading platform in the first half of 2019.
The firm announced Wednesday that it has partnered with a local fintech company solarisBank to create an engineering infrastructure for digital assets trading. solarisBank, which operates with a banking license in the country, will also be Boerse’s banking partner for the venture.
“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,” said Alexander Hoptner, CEO of Boerse Stuttgart.
Initially, trading for bitcoin and ether will be enabled on the platform, with support for other tokens expected once its initial coin offering (ICO) platform – also currently under development – goes live.
Both individual and institutional investors will be able to trade on Boerse Stuttgart’s crypto platform, which will offer features similar to its stock trading platform. This includes open order books and order execution in compliance with relevant laws.
Boerse Stuttgart is also seeking a regulatory approval to offer multilateral trading facility (MTF) for its crypto trading marketplace. MTF is a type of trading system that allows matching buyers and sellers of financial instruments using electronic systems.
The stock exchange first revealed its plans to launch platforms for crypto and ICO token trading in August of this year, as well as a trading app called Bison and custody services for cryptocurrencies. The trading app will be launched by Boerse’s subsidiary Sowa Labs and will offer fee-free trading at launch, the firm said at the time.
Just yesterday, SolarisBank also teamed up with a crypto payments startup Bitwala to help them offer crypto banking services in the country.