Börse Stuttgart is the Germany’s 2nd largest stock exchange which is now planning to double its investment in the crypto niches. On 2 Aug, 2018, the reports revealed that it is planning to develop a new ICO platform as well as crypto trading venue.
According to plan, the platform to be rolled out as a part of larger ‘end-to-end infrastructure’ for ‘digital assets’. Also, the new ICO platform will facilitate digital token issuance with “standardized and transparent processes”.
In 2017, Börse Stuttgart had a EUR 81 billion trading volume over all assets classed. However, the announcement comes just months after it revealed the plan for a zero-fee crypto trading app- ‘Bison’. The Stuttgart said that before the bison is live, the ICO, trading venue as well as crypto custody service will be available.
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The CEO of Börse Stuttgart, Alexander Höptner said that the new approach was in demand from all investors for trading with cryptocurrencies.
“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 and cryptocurrencies”.
Further, he noted that the firm is also planning to ‘closely cooperate’ with financial regulators. It is aiming for all under one i.e., central services with value chain for crypto assets.
As stated, the bison trading app will support trading of Ethereum, Bitcoin, Litecoin, and Ripple. The Bison app’s website cites that it’s free to download and yet more assets to be add-ons to the features. It also claimed that they will charge no trading fees.
The managing director of Sowa Labs, Dr. Ulli Spankowski claimed:
“Bison makes trading in digital currencies easy. However, it is the first crypto app in the world to have a traditional stock exchange behind it”.
The last year, in Sowa Labs, Borse Stuttgart acquired a 100 percent stake when it purchased fintech startup. Although, the exact cost of the acquisition is not clear the price was in millions of Euros.
Image Source: Börse Stuttgart