Business 14 December 2018

Ed Drake

Börse Stuttgart to launch crypto trading venue in 2019

Börse Stuttgart, the firm behind the Stuttgart Stock Exchange, is to launch a crypto trading market in 2019, in partnership with solarisBank.

According to a statement published by the exchange, Germany’s second largest, Börse Stuttgart will have the infrastructure for trading digital assets in place over the coming months, building on a model first announced back in August.

solarisBank is seen as natural partnership, as one of the most crypto-supportive German banks, following a recent announcement that the bank would begin offering crypto-fiat bank accounts under its German banking license.

Alexander Höptner, CEO of Börse Stuttgart, said that the Blockchain-as-a-Service bank would enable the exchange to set new standards for crypto trading markets, specifically in relation to reliability and transparency. He noted, “solarisBank’s Blockchain Factory supports us in taking trading in crypto currencies and tokens to the next level and in setting new standards in transparency and reliability.”

The CEO of solarisBank, Roland Folz also welcomed the partnership with Börse Stuttgart, saying, “We are very pleased that Börse Stuttgart Group chose our Blockchain Factory around Peter Grosskopf and Michael Offermann as its trusted partner.”

The announcement comes at a time of increasing efforts around establishing regulated crypto trading markets, with Nasdaq and Bakkt in the U.S. leading the charge.

As one of the leading exchanges in Europe, the Börse Stuttgart launch represents a new global front for a regulated token exchange floor, which could ultimately help bring forward mainstream institutional adoption of cryptocurrency investments.

As well as trading in cryptocurrencies, the exchange will subsequently allow traders access to ICO listings, including secondary markets for tokens issued under initial coin offerings.

Despite the ongoing decline in crypto prices and its impact on other cryptocurrencies, the move reflects the continued optimism of mainstream financial institutions in the crypto ecosystem.

The trading exchange will be open to both institutional and retail investors, and will offer trading similar to existing securities trading platforms. Open order books will also crucially help shine a light of transparency, which does not exist in the case of some unregulated crypto exchanges.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

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