The digital arm of the second-largest stock exchange in Germany, the Stuttgart Stock Exchange, is launching Bitcoin trading today, September 23. The Digital Exchange of the Stuttgart Stock Exchange (BSDEX) will be the country’s first regulated trading platform where investors can interact without having to rely on third parties.
The Digital Exchange of the Stuttgart Stock Exchange starts offering Bitcoin trading today. According to reports, it is the first regulated trading venue for digital assets in the country and provides direct peer-to-peer trading.
At first, trading will only be available for select clients. However, in the future, more individuals will be granted access, and eventually institutional investors will be looped in as well.
The technical operator of BSDEX is Boerse Stuttgart Digital Exchange GmbH, which is a joint venture that involves Boerse Stuttgart, the second-largest stock exchange in Germany.
Dr. Dirk Sturz, CEO of Boerse Stuttgart Digital Exchange, 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.
The CTO of the project, Peter Grosskopf, noted:
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.
According to reports, the trading won’t require brokers, as traders will interact with the platform directly. At first, the platform will provide regular market and limit orders, but as time goes on, other order options will be included.
Boerse Stuttgart has already launched Bison, a mobile app that allows users to trade Bitcoin, Ethereum, Litecoin, and XRP for euros. BSDEX’s trading platform is a continuation of its overall strategy which should pave the way for the trading of tokenized assets in general, the reports state.