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German Stock Exchange Boerse Stuttgart To Establish ICO Platform And Cryptocurrency Exchange

By

Melanie

Kramer

WriterETHNews.com

After announcing what could be the first stock exchange-backed cryptocurrency trading application for smartphones in April, Boerse Stuttgart is now creating an ICO platform as well as full trading and custody services for cryptocurrencies.

Boerse Stuttgart (sometimes written as "Börse Stuttgart") operates the second-largest stock exchange in Germany and is one of the world's leading traditional exchanges. In April 2018, it announced a mobile-based cryptocurrency trading application, which it described as the "first crypto app in the world to have a traditional stock exchange behind it." The application, called BISON, is being built by FinTech startup Sowa Labs, a subsidiary of Boerse Stuttgart Digital Ventures.

BISON will be available free of charge from fall 2018, first in German, then later in English. The application boasts easy activation, no trading fees, and "no need for crypto wallets," and is being built with the results of a recent survey by Sowa Labs in mind. The study of 1,000 participants showed that investors want "easier access to the cryptocurrency market."

On August 2, 2018, Boerse Stuttgart Group announced further plans to expand its offering for digital assets. The group is launching an ICO platform and a "multilateral and regulated trading venue for cryptocurrencies," alongside cryptocurrency custody services to achieve an "end-to-end infrastructure for digital assets."

Alexander Höptner, CEO at Boerse Stuttgart GmbH, says the firm "will help to promote acceptance of digital assets," by offering its institutional standards and reputation through its digitisation strategy.

Boerse Stuttgart's ICO platform will facilitate token issuance, and tokens can be traded on the secondary market through its trading platforms, which it describes as an "important success factor for ICOs." Its cryptocurrency exchange will also offer bitcoin and Ether. 

The announcement follows the June revelation that Swiss stock exchange operator SIX also has plans for a "fully-regulated" cryptocurrency exchange. Jos Dijsselhof, the CEO of SIX, said at the time:

"This is the beginning of a new era for capital markets infrastructures."

The Swiss cryptocurrency exchange is slated to launch in the first half of 2019.

Melanie Kramer

Melanie Kramer is a freelance FinTech, blockchain, and cryptocurrency writer based between France and Canada. Melanie has studied, and retains an avid interest in, global politics, business, and economics.

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