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Boerse Stuttgart, Europe's tenth largest stock exchange, Preps for Crypto
December 13, 2018 by William Peaster
This week, the Boerse Stuttgart Group, the 10th largest European stock exchange and the second largest in Germany behind the Frankfurt stock exchange, announced that it has partnered with Berlin's solarisbank. The latter will provide banking services and build infrastructure for the next Stuttgart cryptocurrency trading platform.
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Bitcoin, the Ether trading that arrives at the Boerse real-time trading platform in Stuttgart
On December 12th, Boerse Stuttgart announced that it will work with SolarisBank to agree to update the new cryptocurrency trading location of the stock exchange by the end of the second quarter of 2019.
solarisBank, a provider of banking services, will use its modular offerings to build the cryptographic platform from scratch. solarisBank will also use its banking license to meet the bank encryption needs of Boerse Stuttgart.
For its part, Boerse Stuttgart is Germany's most popular stock exchange among domestic retail investors, the country's leading edge stock exchange and the leading European platform for securitized derivatives. Last year he ran about $ 92 billion worth of trade, making it the 10th largest continent exchange in that period.
The Stuttgart-based exchange had declared its intentions to launch a cryptocurrency trading arm last fall. Shortly before, the stock exchange said it was interested in launching a platform to host Initial Coin Offerings (ICOs).
According to the news, Boerse Stuttgart CEO Alexander Höptner argued that SolarisBank's resident blockchain initiative would help his company's new sales office to become a trendsetter.
"The SolarisBank Blockchain Factory supports us in trading in encrypted and token currencies to the next level and setting new standards in terms of transparency and reliability," said Höptner.
Further combinations of mainstream encryption will come to Europe?
The question for now is whether the other major European stock exchanges will look to the example of Boerse Stuttgart in exploring their cryptocurrency trading locations.
It remains to be seen, but the focal point of Boerse Stuttgart suggests that more traditional financial actors are starting to consider digital resources as tools to consider.
In other European stock news, a cryptocentric exchange product, the Amun Crypto Basket ETP, was granted a list on the Swiss Stock Exchange (SIX) in November 2018.
The ETP, which automatically rebalances every month, monitors the prices of bitcoin, ether, XRP and litecoin for its first basketball cycle. The product has seen an increase of $ 400,000 USD in trading volume in the first week after its listing.
Beyond business, this month, transport officials from seven EU member states have announced plans to work together to make southern Europe a hub for blockchain embraces and blockchain enterprises.
"We firmly believe that the use of this technology can lead to greater cooperation in the Mediterranean basin," said the ministers.
And as far as hub status is concerned, Samsung's smartphone production power plant has just chosen to present three cryptocurrency patents at the European Union's Intellectual Property Office, when they could have stored them elsewhere.
For now, a common thread to be observed will be whether other companies will follow the same path in the months and years to come.
What do you think about it? Will other European exchanges follow the leadership of Boerse Stuttgart in opening cryptocurrency weapons? Let us know in the comments section below.
Images via Pixabay
