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Boerse Stuttgart Stock Exchange Expands Cryptocurrency Services Suit
Editorial Team

Germany’s second largest stock exchange Boerse Stuttgart is expanding its collection of cryptocurrency investment tools for investors, building an end-to-end infrastructure facilitating cryptocurrency trading.

In last April, the company announced that it would launch a cryptocurrency trading application called Bison, which was developed by one of the company’s subsidiaries – Sowa Labs. This app was scheduled to launch in autumn 2018. However, the stock exchange is already planning its further foray into the field of cryptocurrency, reported.

Besides Bison, the company plans to introduce an Initial Coin Offering (ICO) platform which will ease the issuance of digital tokens. In addition, the platform will facilitate the execution of ICOs in a transparent and standardized process.

Boerse Stuttgart’s intention is to offer a comprehensive infrastructure for digital assets. In this line, a fully-fledged trading venue and a custody solution are also in its pipeline.

Alexander Höptner, CEO at Boerse Stuttgart GmbH, noted:

“We can offer central services along the value chain for digital assets, all under one roof. Investors and market participants know that Boerse Stuttgart Group stands for quality, transparency and reliability. As a Germany-based provider, we want to transpose this standard into the digital world. We will help to promote acceptance of digital assets.”

The news of Boerse Stuttgart follows similar development in the US. The parent company of the New York Stock Exchange (NYSE) – the Intercontinental Exchange (ICE) announced on August 3 that it has joined forces with marquee companies like Microsoft and Starbucks to set up a global digital asset platform Bakkt, which is estimated to launch in November 2018.

According to popular cryptocurrency commentator and owner of investment firm BKCM LLC Brian Kelly, this is “the biggest news of the year” for Bitcoin.

The CNBC trader noted:

“They’re talking about getting this into your 401(K). They’re talking about in your…. Fidelity or TD Ameritrade account, you’re going to be able to buy a bitcoin ETF, a bitcoin mutual fund. It expands the universe.”

With institutions like Boerse Stuttgart and ICE working on a solution of the kind on their own, the issue of lack of a custody service offered by a trusted and more co-regulated entity will be eliminated.