September 2019 – The Stuttgart-based company shows how to handle crypto currencies as a new asset class: Effective immediately, Germany’s first regulated marketplace for digital assets will be active on the local stock exchange. At the “Stuttgart Digital Exchange” (BSDEX) Bitcoin can initially be traded against Euro. In the next step, tokenized securities are to follow. This brings the goal of round-the-clock trading, 365 days a year, within reach. And that is a major advantage of digital securities or Security Token Offerings (STO).
So far, access has only been possible for selected users. But this is set to change soon. Then private and institutional investors will also be activated for trading on BSDEX.
As the second largest German stock exchange, the Stuttgart stock exchange has been considered a pioneer in the crypto world for some time. For example, through the Bison app, which enables private investors to trade Bitcoin, Ethereum, Litecoin and Ripple via their smartphones.
The trading center of the future with strong partners
Peter Großkopf, CTO at BSDEX, is quoted in the press release: “Private and institutional investors alike will have direct access to digital assets through BSDEX, which they can trade flexibly and at relatively low cost. The block chain will change the financial industry forever. We take up the technology trend and build the trading platform of the future.“
The technical operator of BSDEX is Boerse Stuttgart Digital Exchange GmbH, a joint venture of Boerse Stuttgart GmbH, Axel Springer and finanzen.net. The solarisBank is responsible for payment processing and the safekeeping of customer funds in euros. The custody of the digital assets acquired on BSDEX is held in trust by blocknox GmbH, a subsidiary of Boerse Stuttgart Digital Ventures GmbH.
The BSDEX credit account is free of charge for users and enjoys the protection of the deposit protection fund. As a trading place under the umbrella of the Stuttgart Stock Exchange Group, BSDEX is subject to the supervision of the Federal Financial Supervisory Authority (Bafin).
Recognition has been received from industry expert Philipp Sandner, Head of the Blockchain Center at the Frankfurt School of Finance and Management, among others. He told German newspaper Handelsblatt that there are few German companies that pursue a block chain strategy as consistently as the Stuttgart stock exchange. It is remarkable how an established stock exchange, which has been active on the market for decades, can build up a crypto segment in a short time.