Germany’s Second Largest Stock Exchange to Create Cryptocurrency Ecosystem

Boerse Stuttgart, the second largest exchange platform in Germany is committed to promoting cryptocurrency trading and investments, recent company decisions have shown.

The exchange which is creating a cryptocurrency trading app, the BISON app and now it is developing an end-to-end cryptocurrency infrastructure. According to an announcement by the exchange, it will soon launch an ICO platform, a crypto trading site, and cryptocurrency custody service.

The company statement read:

“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.”

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Building upon Conventional Structures

Notable financial institutions and exchanges who have indicated interest in cryptocurrency often rely on their reputation, and a huge customer base. Alexander Höptner, the CEO of Boerse Stuttgart GmbH said that the exchange will leverage on its broad expertise as an established market player, along with a solid reputation it has built over the years as is enters into the crypto sphere.

Höptner explained:

“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.”

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Developing a Comprehensive Crypto Ecosystem

Boerse Stuttgart wants to develop tools and services around its cryptocurrency trading app, BISON. The app which will be launched later this year will initially allow the trading of Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], and Litecoin [LTC].

The cryptocurrency ecosystem will be divided into primary and secondary markets. Höptner explains that the ecosystem will comprise a platform where ICOs can be issued, ICO tokens traded and another section where major cryptocurrencies like BTC and ETH can be traded. Furthermore, a section will be developed for retail investors and institutional investors.

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