The second largest stock exchange in Germany and the ninth largest in Europe Boerse Stuttgart (SWB) after launching the crypto-trading app BISON is coming up with an ICO platform which will work as a custodian and a safe place for trading cryptocurrencies and related services. This leading exchange is expanding its arms to the primary and secondary markets by getting involved aggressively in the era of DLT and virtual assets.
Through a recent announcement SWB stated:
“Boerse Stuttgart Group is creating an end-to-end infrastructure for digital assets. After the start of cryptocurrency trading via BISON, there will soon be a platform for initial coin offerings (ICOs), a multilateral trading venue for cryptocurrencies as well as solutions for safe custody. Boerse Stuttgart Group thus continues to pursue its digitization strategy and is becoming a pioneer for the digital transformation of financial markets and financial products.”
According to the recent press release, the exchange is founding a multilateral and regulated trading venue for cryptocurrencies at the same time with what the group describes as “standardized and transparent processes.” The new and diversified ICO platform will let the issuance of digital tokens in cases like corporate financing or to represent rights and assets.
The CEO of Boerse Stuttgart GmbH, Alexander Höptner claims:
“On this basis, we can offer central services along the value chain for digital assets, all under one roof. Investors and market participants know that Boerse Stuttgart Group stands for quality, transparency, and reliability. As a Germany-based provider, we want to transpose this standard into the digital world. We will help to promote acceptance of digital assets.”
Boerse Stuttgart Group is a leader in technology and regulation. The trading model with its robust technicalities makes it a constructive infrastructure with its burgeoning approach to pair the BISON app which seems to be a prosperous development in the virtual currency trading ecosystem.
However, the app will launch this year in autumn for market access to allow free and secure trading of cryptocurrencies, making it the first app in the world to be funded by a conventional stock exchange. To begin with, the app will support trading the major cryptos Bitcoin, Ethereum, Ripple, and Litecoin.
Further Alexander Höptner elucidates:
“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 with cryptocurrencies.”
A recent survey by the German bank revealed that there is much more volume in the country with the active interest in the emerging cryptocurrency market. Even with the 65 percent decline in the value of the market since the start of 2018, Germans appear to be buoyed by bitcoin and other digital assets. Germany is already a crypto-friendly nation that doesn’t even tax small purchases made with bitcoin, treating them instead as legal tender.
The crypto market is incredibly volatile with wild price swings a ubiquitous part of the digital currency narrative. Thus, there is always the possibility of making huge gains, as well as vast losses.