Business 3 August 2018Gerald Fenech
German stock exchange gears up for crypto, ICO tokens trading
Börse Stuttgart will set up a new trading venue that allows the exchange of tokens from initial coin offerings (ICOs) it will host, in addition to other established cryptocurrencies, according to reports.
Börse Stuttgart is considered to be the second largest stock exchange in Germany. Now, it is eyeing to expand its crypto-related investments and has announced intentions to create a “multilateral regulated trading venue” for cryptocurrencies. It also intends to develop a new platform for conducting ICOs.
Earlier this year, the exchange said that it was developing a new cryptocurrency trading app called Bison. Bison is expected to offer free access to crypto investment and the German version is scheduled to be released this fall, followed by an English version soon after.
Finextra reported that Börse Stuttgart now wants to extend its crypto-related activities to the primary and secondary markets. This will mean creating an ICO platform that will allow the issuance of digital tokens, which will be used for either corporate financing or to represent assets and rights. The coins of the hosted ICOs will be traded in parallel with leading decentralized cryptos, and the exchange is also preparing to establish the regulated trading venue.
The chief executive officer of Börse Stuttgart, Alexander Hoptner, said that all this will allow the exchange to offer “central services along the value chain for digital assets, all under one roof.” The stock exchange’s announcement comes on the heels of last year’s establishment of a “Digital Ventures” unit and the subsequent acquisition of local data analytics startup Sowa Labs.
After Frankfurter Wertpapierborse, Börse Stuttgart is the second largest stock exchange in Germany and the ninth largest in Europe. Cryptocurrencies and the related industry has been treated carefully by Germany so far. Cryptos in the Bundesrepublik are not subject to VAT when exchanged with fiat and are exempt from capital gains tax.
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.
Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.
Business 1 hour ago
Avelacom and Seed CX Partner to Enhance IT Infrastructure
Seed CX’s partnership provides Avelacom institutional clients with better infrastructure and connectivity solutions.
Business 2 hours ago
HitBTC claps back at claims it is insolvent
The HitBTC cryptocurrency exchange has had to deal with a backlash after it froze accounts over fears of a mass exodus and was then accused by John McAfee and Bitcoin Private.
Business 2 hours ago
A growing number of NFL players want to be paid in crypto
If this were to happen, with the power they possess to sway public opinion, it could be bigger news for the Bitcoin ecosystem than AT&T accepting crypto.