January 2020 – While the services of the Digital Exchange of the Stuttgart Stock Exchange (BSDEX) launched in September 2019 were initially only accessible to selected users, Germany’s first regulated trading place for digital assets has now opened its doors to further interested parties.
More users, more functions, more trust
Almost around the clock, seven days a week, Bitcoin can now be traded here against Euro. In addition it is possible to pay in and out tradable crypto currencies without costs. Also the safekeeping is free of charge. It is held in trust by blocknox GmbH, a subsidiary of Boerse Stuttgart Digital Ventures GmbH. However, the individual transactions are of course subject to charges. Here, the prices vary depending on the order. In contrast, solarisBank AG is responsible for the processing of payments and the safekeeping of customer funds in euros.
For private and institutional investors – at least those who meet the conditions, more on this below – this represents a milestone in the field of digital assets. After all, the first German crypto exchange – like all those that will follow at some point – must meet the regulatory requirements of the German Banking Act. The statutory deposit insurance also applies here. Compliance with the German legal framework creates trust.
Expansion is planned
Further digital assets are to be added, according to the BSDEX in its announcement. These are not defined more closely, but the announcement will probably not only extend to other crypto currencies. Instead, it can be assumed that the trading place will be created here, which will make the STO concept really round. After all, where else should digital securities be traded than here? In an interview with Crypto Monday, Dr. Dirk Sturz, CEO of BSDEX, says, “A trustworthy and stable secondary market is a core pillar of capital markets. This also applies to digital assets.”
He goes on to explain the background: “The BSDEX is operated as a multilateral trading system in accordance with § 2 paragraph 12 of the German Banking Act by Baden-Württembergische Wertpapierbörse GmbH, which is also the sponsoring company of the public stock exchange in Stuttgart. Boerse Stuttgart Digital Exchange GmbH, as technical operator, provides the necessary infrastructure for trading on the BSDEX.
Clear, concise, easy to use: Interface invites you to try it out
The registration is uncomplicated online. The requirements are manageable. Users must be of age, have a German residence and bank account and be from the EU area. However, the prominently placed risk warning makes it clear. Although the exchange invites users to try out the system, crypto-currencies are usually subject to strong market fluctuations and require a certain amount of experience on the part of the user. Well – one can build up this experience.
The site is based on the look & feel of the Stuttgart Stock Exchange site and offers targeted and, above all, clearly formulated information. No wonder: The technical operator of the BSDEX is Boerse Stuttgart Digital Exchange GmbH. And this in turn is a joint venture of Boerse Stuttgart GmbH, Axel Springer and finanzen.net.Three partners who have sufficient knowledge in their traditional fields.