Boerse Stuttgart launched the Digital Exchange of the Stuttgart Stock Exchange. It enables trading Bitcoin.
Great news for those willing to buy and sell Bitcoin in Germany. Boerse Stuttgart, the second-biggest exchange in the country, is now offering a new trading venue for digital assets in the country. According to the press release, it is the first “trading venue for digital assets in Germany, where investors’ orders are directly executed against each other according to firm rules.”
CEO of Boerse Stuttgart Digital Exchange, Dr. Dirk Sturz made comments on the topic. He said: “With cryptocurrencies, a billion-dollar market has emerged. Based on the blockchain, further digital assets will be established. Therefore, we want to build the leading European trading center.”
What BSDEX brings to the table
BSDEX’s trading platform provides direct peer-to-peer trading and has commenced trading Bitcoin. Nevertheless, only selected clients will be able to trade. But, in the future, more private individuals, as well as institutional investors, will be granted access.
BSDEX doesn’t require brokers as traders can interact directly with the platform. Currently, the venue only provides regular market and limit orders, order options will come later on.
Boerse Stuttgart partnered with SolarisBank for the project. Thus, the bank will process payments and custody euro funds. These structures along with its existing mobile app, Bison which allows users to trade Bitcoin, Ethereum, Litecoin, and Ripple, make the exchange commendable for users.
Peter Großkopf, CTO at BSDEX, spoke about the exchange’s plans to give retail and institutional investors direct access to digital assets. They’ll also provide flexible and relatively low-cost trading. “The finance industry will experience significant changes with blockchain. Therefore, we want to leverage its potential to create the trading venue of the future,” he said.
It is noteworthy that this not the first regulated product of such type on the market. Per Handelsblatt, other initiatives like Bitcoin.de and “Bison” App that offers Bitcoin, Ethereum, Litecoin, and Ripple are also present on the market. For Germany, which (even Handelsblatt admits it) is not a digitization pioneer, such moves are promising. Perhaps, they may even inspire the SEC to finally approve a Bitcoin ETF