Second-Largest Stock Exchange In Germany To Launch An ICO Platform And A Cryptocurrency Trading Platform

Germany’s second-largest stock exchange, the Boerse Stuttgart, has unveiled plans to develop an Initial Coin Offering (ICO) platform, as well as a multilateral cryptocurrency trading platform, as reported by Finextra yesterday.

The German stock exchange, which in 2017 had a trading volume of about $95 billion in all asset classes, had already presented a prototype of its commission-free cryptocurrency trading platform to the public. The platform, called Bison, is scheduled for release in September.

The exchange is now targeting both the primary and secondary markets through the development of both an ICO platform and a multilateral and regulated crypto trading system.

The ICO platform will facilitate the issuance of crypto tokens, corporate financing, and representation of rights and assets, with the aim of increasing their chances of success.

The ICO platform launch would help the Garmany’s second-largest stock exchange develop a multilateral cryptocurrency trading platform

According to Finextra, Alexander Hoptner, Boerse Stuttgart CEO, said the move to develop the cryptocurrency trading platform is a response to “retail and institutional investors’ demand for a regulated and reliable environment for crypto trading.”

“At the trading venue, tokens issued through our ICO platform can be traded on the secondary market. This is an important success factor for ICOs,” Hoptner added.

Alexander Hoptner added that the purpose of the exchange is to provide “core services along the value chain of digital assets, all under one roof,” so it is developing a comprehensive services infrastructure that will include secure custody solutions for both emerging digital assets and established cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).

Bison is being developed by local data analysis firm Sowa Labs, which the platform acquired in December 2017 as part of its roadmap to an ambitious “digital strategy”.

Beyond cryptocurrency trading operations, the Bison platform seeks to integrate the underlying blockchain technology to increase the efficiency and security of the transactions.

You might like

About the Author: Anna Galvez

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.