Germany’s second-largest stock exchange, has launched the fully regulated Boerse Stuttgart Digital Exchange (BSDEX) digital asset trading platform.
The Boerse Stuttgart Digital Exchange (BSDEX) is governed by the Banking Act. Bidding on the site started on Monday, September 23.
At the moment, only one trading pair is available – Bitcoin to Euro. By the end of this year, it is planned to list ether, lightcoin and rip, which will be available in tandem with the euro. The next year, tokenization of traditional assets is planned.
Plans for creating a regulated cryptocurrency platform were announced for the first time
in December 2018. At the same time, representatives of the exchange operator claimed that the estimated timeline for the full launch of the platform is the first half of this year. However, the timing had to be slightly shifted.
Access to BSDEX will be gradually gained by retail and institutional investors throughout the EU. Trading will be available 7 days a week around the clock, in fact, like on many other cryptocurrency exchanges.
“The capitalization of the cryptocurrency market is estimated at billions of dollars. Over time, more and more digital assets will appear on the blockchain, said Dirk Sturz, CEO of the exchange. “We plan to become leaders in trading these assets in Europe.”
To implement its plans, the Stuttgart Stock Exchange signed an agreement with SolarisBank, which will process payments and store funds in euros.
“Thanks to the launch of BSDEX, any retail or institutional investor will be able to access digital assets and the ability to conduct flexible and relatively low-cost trading. According to our estimates, the blockchain will significantly change the current financial industry and we do not want to stand by watching the development of promising technology, so we decided to use it to create a trading platform for the future, ”said Peter Großkopf, BSDEX Technical Director.
Recall that in April, the division of the Stuttgart Stock Exchange Nordic Growth Market (NGM) launched
Exchange traded products (ETP), which are tied to the value of lightcoin and rip.
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