Boerse Stuttgart: Making (Regulated) Bitcoin Moves

Boerse Stuttgart, Germany’s second-largest stock exchange, recently made headlines by announcing the release of the BSDEX, their own digital asset exchange. 

Date: 
September 25, 2019
Read time: 
3 minutes

Boerse Stuttgart: Making (Regulated) Bitcoin Moves

Author: Dylan B
Date: 
September 25, 2019
Read time: 
3 minutes

Boerse Stuttgart, Germany’s second-largest stock exchange, recently made headlines by announcing the release of the BSDEX, their own digital asset exchange. 

Boerse Stuttgart, Germany’s second-largest stock exchange, recently made headlines by announcing the release of the BSDEX, their own digital asset exchange. 

The market in cryptocurrencies is worth billions, and more digital assets will emerge on the basis of blockchain. Our goal is to build up the leading European trading venue for those assets (Dr. Dirk Sturz - CEO of Boerse Stuttgart Digital Exchange)

BSDEX is the first of its kind in Germany and is also fully regulated under the German Banking Act, making it an exciting development and a major step forward for the crypto community abroad. BSDEX is currently available for German residents (retail and institutional traders) and it should be open for the rest of the European Union early next year. 

For the moment, the exchange will only be providing spot trading for the Euro and Bitcoin trading pair. However, Boerse Stuttgart has announced that they do intend adding other cryptocurrencies to the mix such as Litecoin, Ethereum, and Ripple this year and adding tokenized securities and assets in 2020. 

Two of the officials over at the Boerse Stuttgart Digital Exchange spoke out about the new exchange, with CEO Dr. Dirk Sturz discussing the goal of the product: 

The market in cryptocurrencies is worth billions, and more digital assets will emerge on the basis of blockchain. Our goal is to build up the leading European trading venue for those assets.

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Meanwhile, the CTO of the exchange, Peter Großkopf, spoke about what the exchange would provide investors with: 

BSDEX will give retail and institutional investors direct access to digital assets and provide flexible and relatively low-cost trading. We believe blockchain is set to bring about significant changes in the financial industry, and we want to leverage its potential to create the trading venue of the future.”

While this is a newsworthy development for the exchange, it is not the first time they have involved themselves in cryptocurrency projects. Earlier this year, they announced the release of their crypto trading mobile app called BISON, their exchange-traded notes for Ripple and Litecoin, and the launch of their own ICO platform. 

Given that they already have a strong foothold in Germany and in cryptocurrency, we expect to see more from them as they continue to build on these achievements.

Posted by Dylan B

Dylan Buckley is a writer based in California. He became interested in cryptocurrency upon discovering it in 2014 and soon started investing as well as writing for a wide variety of clients and crypto-startups in the space. When he is not producing content for individuals and businesses, he is typically working on his own self-development content or making music.

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