Börse Stuttgart Prepares To Host ICO And Crypto Trading

Germany's second-largest stock exchange, Boerse Stuttgart is planning to expand into the crypto market. Boerse Stuttgart recently announced that it will be setting up a new trading venue for cryptocurrencies. It will feature a way to safely store digital assets, as well as a way to offer new initial coin offerings (ICOs).

This announcement follows up an announcement earlier this year when Boerse revealed that it was developing ‘Bison‘, a new cryptocurrency trading app. This makes it the first crypto trading app developed with the support of a major stock exchange.

‘Bison‘ is supposed to offer free access to crypto investment. It is still set for release this fall and the app will be in Germany. The app will support trading in Litecoin, bitcoin, Ethereum and Ripple. The English version is set to be released sometime later.

Boerse seems to be planning to go beyond the ‘Bison app‘ as it wants to participate in the primary and secondary market for cryptocurrencies. It has already made plans to set up a new ICO platform where digital tokens can be issued, either as corporate financing or as a way to represent assets.

One-Stop Crypto Trading

In addition to the ICO platform, Boerse also has plans for a new crypto trading venue. Here, the tokens gained from ICOs can also be able to be traded with leading cryptocurrencies. For example, a trader who has ICO tokens to unload will be able to exchange it for bitcoins via a simple process. It also works the other way around. To ensure everything is fair, secure storage will be given both to traders and investors.

In a statement, Alexander Höptner, CEO for Boerse Stuttgart said

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 cryptocurrencies

This level of trading allows for investors to do all their buying and selling under one roof. It is hoped that the convenience will attract investors and traders to the stock exchange as Germany is not placing additional taxes on any crypto transactions Branching out into digital is nothing new for the German stock exchange. In 2017, Boerse announced that they would be establishing a Digital Ventures unit and supported it by the purchase of Sowa Labs, a local data analytics company, which is currently hard at work on the Bison app.

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