The second largest stock exchange in Germany, Stuttgart Böurse has announced a platform for cryptocurrency trading and Initial Coin Offerings (ICOs). It will allow Germans to take part in the digital coin revolution which is seen to be captivating Europe.
Stuttgart Böurse is known around the world for the amount of trading volume it carries out, which accounts for more than €80 billion. It was founded way back in 1860 and has grown rapidly to become the ninth largest stock exchange in Europe.
The exchange has been making several moves towards cryptocurrency. It created a ‘Digital Ventures’ unit back in September last year and had also acquired an analytics group called Sowa Labs. It has also announced the creation of a cryptocurrency trading application at the beginning of 2018, which will be called Bison. It is expected to release in September.
The platform will focus on ICO’s allowing for tokens to be issued to the financing of the tokens, and hence an overall platform which will enable ICO’s to function.
Alexander Höptner, CEO of Stuttgart Böurse has realized the importance of a cryptocurrency platform. He said, “Demand from both retail and institutional investors for a regulated and reliable environment 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. Böurse aims to provide central services along the value chain for digital assets, all under one roof.”
German Bank Postbank carried out a survey recently where it showed that many in Germany love to be part of the cryptocurrency market. Germany has even treated bitcoin as a legal tender, with no tax on it whatsoever.
However, the ICO market which is seen to be facing a lot of issues due to negative news will be made safer and regulated in Germany through Stuttgart Böurse’s platform. Hence investors will feel more protected as there will be a regulation to reduce fraud and criminal activities. European countries too would turn towards this German platform to initiate investments in ICO’s in a safer manner.