Second-Largest German Stock Exchange Launches Regulated Bitcoin Trading Platform
The second-largest stock exchange in Germany, the Stuttgart Stock Exchange is launching Bitcoin trading on its digital arm, starting today, September 23rd. Reportedly, the Digital Exchange of the Stuttgart Stock Exchange (BSDEX) will be the first regulated trading venue in the country where investors can interact without having to rely on third parties.
Bitcoin’s Adoption Continues
The Digital Exchange of the Stuttgart Stock Exchange (BSDEX) starts offering Bitcoin trading today. According to the reports, this will be the first regulated trading venue for digital assets in the country and it will provide direct peer-to-peer trading.
At first, however, the trading will only be available for selected clients. However, in the future, more private individuals will be granted access, eventually looping in institutional investors as well.
The technical operator of BSDEX is called Boerse Stuttgart Digital Exchange GmbH. This is a joint venture which also includes Boerse Stuttgart – the second-largest stock exchange in the country.
Commenting on the matter was Dr. Dirk Sturz, CEO at Boerse Stuttgart Digital Exchange, who said:
With cryptocurrencies, a billion-dollar market has emerged. Based on the blockchain, further digital assets will be established. For this, we want to build the leading European trading center.
Also weighing in was the CTO of the project, Peter Grosskopf, who said:
Private and institutional investors will have direct access to digital assets through BSDEX, which they can trade flexibly and at relatively low cost. The blockchain will change the financial industry sustainably. We are picking up on the technology trend and building the trading center of the future.
Specifics Behind The Trading Venue
Per the reports, the trading won’t require brokers as traders will interact with the platform directly. At first, the venue would provide regular market and limit orders, but as time goes, other order options will also be included.
It’s also worth noting that Boerse Stuttgart has already launched Bison – a mobile app that allows users to engage in Bitcoin, Ethereum, Litecoin, and Ripple trading with euros. BSDEX’s trading platform is considered as a continuation of the overall strategy which should pave the way for trading tokenized assets, in general, the reports state.
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