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The SolarisBank and Stuttgart exchange group is jointly developing an infrastructure for a cryptocurrency exchange, according to Cointelegraph Germany on 12 December.
The Stuttgart Stock Exchange, founded in 1860, is the second largest stock exchange in Germany and the ninth in Europe. SolarisBank, on the other hand, is a German fintech company founded in 2015 that holds a banking license and offers a "Banking as a Platform" service.
This news goes hand in hand with plans announced by the May exchange to release a free-cryptocurrency trading application.
The cryptographic exchange of the two companies, which is expected to be launched in the first half of 2019, "will see SolarisBank acting as a banking platform for the exchange.
Roland Folz, CEO of SolarisBank, stated that "a reliable and efficient trading platform is an elementary contribution to [their] vision of a hybrid financial world with fiat and cryptocurrency ".
The press release notes that Bitcoin (BTC) and Ethereum (ETH) will be available for trading on the stock market by both retail and institutional investors. In addition, an ICO platform, which was announced in August, is being developed for the exchange. Tokens introduced on the platform will also be tradable on secondary markets.
This project is part of the SolarisBank "Blockchain Factory" initiative, which offers its customers specialized accounts for blockchain companies.
As reported by Cointelegraph in April, VPE WertpapierhandelsBank AG (VPE), a German securities trading bank, has also worked with SolarisBank. The objective of the partnership is to launch a cryptocurrency trading service for institutional investors.
Bitwala, a German cryptocurrency startup managed by SolarisBank, also announced today that it has opened its operations, with 40,000 pre-registered customers who will have access to Bitcoin and euro deposit accounts.
Using the SolarisBank banking license, funds in euros will be protected up to 100,000 euros and will be controlled by the two German banking regulators: BaFin and Bundesbank.
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