Exchange Boerse Stuttgart, the second biggest stock exchange platform in Germany, has launched a fully authorized and regulated platform for trading digital currencies. Called the Boerse Stuttgart Digital Exchange (BSDEX), the platform is well under the supervision of the German Banking Act and has already begun trading activities.
Late last year, the stock exchange announced its plans for digital asset trading and also unveiled a partnership with Berlin-based fintech company, SolarisBank, to create a platform that will facilitate this activity. At the time, the announcement noted that both Bitcoin (BTC) and Ether (ETH) will initially be available. However at the moment, only one pair – Bitcoin/Euro – is available, even though there are plans to expand this and also allow more investors, both retail and institutional, sometime in the near future. BSDEX CEO, Dirk Sturz said:
“The market in cryptocurrencies is worth billions, and more digital assets will emerge on the basis of blockchain. Our goal is to build up the leading European trading venue for those assets.”
The CTO at BSDEX, Peter Großkopf has also touched on the importance of the platform and the benefits it will bring about to investors who are interested in trading digital assets.
“BSDEX will give retail and institutional investors direct access to digital assets and provide flexible and relatively low-cost trading. We believe blockchain is set to bring about significant changes in the financial industry, and we want to leverage its potential to create the trading venue of the future.”
Image Credits: Pixabay
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