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SolarisBank has decided to sign a partnership with the Stuttgart exchange group in order to develop a virtual currency exchange. The information was unveiled in a SolarisBank press release on December 12th.
The decision taken by the Stuttgart Stock Exchange is linked to the intention of issuing an encryption app called Bison. The Stuttgart Stock Exchange is the second largest in the country and one of the largest in Europe.
This new cryptocurrency exchange is planned for the first half of 2019 and SolarisBank will function as a banking platform for the exchange. The two main virtual currencies available for trading will be Ethereum (ETH) and Bitcoin (BTC). It is important to remember that both institutional and retail investors will have access to these assets.
At the same time, there will be a platform specifically designed for Initial Coin Offerings (ICOs). Tokens that will be listed on this platform will be available for trading on secondary markets.
SolarisBank has an initiative, related to cryptocurrencies, which is called "Blockchain Factory". Bank customers will have access to banking services specifically designed for blockchain and crypto companies. There will also be two supervisory authorities, the BaFin and the Bundesbank, which will monitor the processed operations.
This shows that there is a real interest in blockchain technology and cryptocurrencies in different clients. Furthermore, this will help customers gain access to virtual currencies in a regulated and predictable manner. Germany is trying to remain an active player in a very competitive cryptographic market in Europe.
Berlin is one of the cities in which a large number of cryptographic companies are already working.
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