Stuttgart Stock Exchange launches first regulated Bitcoin trading platform in the country
|- Traders can interact directly on the platform without depending on third parties.
- The trading will be accessible for selected clients only.
The digital arm of the Stuttgart Stock Exchange has launched Bitcoin trading on September 23rd. The Digital Exchange of the Stuttgart Stock Exchange (BSDEX) is the first regulated trading venue in the country. Investors will be able to directly interact without depending on third parties. Currently, the trading will be accessible for selected clients only. Access will be granted to private individuals and institutional investors in the future.
The technical operator of BSDEX is called Boerse Stuttgart Digital Exchange GmbH. Boerse Stuttgart, the second-largest stock exchange in the country, is associated with the joint venture. Dr. Dirk Sturz, CEO at Boerse Stuttgart Digital Exchange, said:
“With cryptocurrencies, a billion-dollar market has emerged. Based on the blockchain, further digital assets will be established. For this, we want to build the leading European trading center.”
The CTO of the project, Peter Grosskopf, also gave his views. He said:
“Private and institutional investors will have direct access to digital assets through BSDEX, which they can trade flexibly and at relatively low cost. The blockchain will change the financial industry sustainably. We are picking up on the technology trend and building the trading center of the future.”
According to the reports, brokers will not be involved in trading as traders will interact with the platform directly. In the meantime, the venue would provide regular market and limit orders, but as time goes, other order options will also be included. Boerse Stuttgart has also launched Bison, a mobile app that allows users to engage in Bitcoin, Ethereum, Litecoin, and Ripple trading with euros.
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