The Second Biggest Stock Exchange in Germany Launching ICO Platform

Stuttgart Börse is the second biggest stock exchange in Germany. The exchange has plans to build up a fresh platform for Initial Coin Offerings (ICO). It also plans to have a new venue for multilateral crypto trading.

In the year 2017, this German exchange’s trading volume across the entire asset class was EUR 81 billion. This year in the month of May, the exchange released a model named ‘Bison’ to be brought out in September. Bison is a zero-fee crypto swapping app for the use of the public.

Exchange Eyes Both Primary And Secondary Markets

The exchange is eyeing the primary and secondary markets for an ICO platform plus a multilateral, synchronized crypto trading site.

Issuing of the digital token, corporate funding, as well as a depiction of rights and assets will take place on the main ICO platform. Through this, the exchange aims to increase their probabilities of achievement thereby allowing them to be tradable on its secondary site.

Alexander Höptner, the CEO at Börse Stuttgart, says this is in response to “demand from both retail and institutional investors for a regulated and reliable environment for trading with cryptocurrencies.”

“At the trading venue tokens issued via our ICO platform can be traded on the secondary market. This is an important success factor for ICOs.”

Höptner went on to say that the exchange intends to render “central services along the value chain for digital assets, all under one roof.” Hence they are creating a complete service infrastructure.

The service will incorporate solutions for safe custody. Both well-established cryptocurrencies like Bitcoin (BTC), Ethereum (ETC) as well as emergent digital assets will be safe now. Sowa Labs, a local startup is working on Bison. Börse Stuttgart took over this lab in Dec. 2017 to accomplish a motivated ‘digital strategy.’

Apart from cryptocurrencies, global stock exchanges are seeking to incorporate the fundamental blockchain technology so as to enhance the operations’ competence and safety.

Detailed Analysis By Cointelegraph

Cointelegraph undertook an analysis with regard to the implementation on a world level blockchain for stock dealings. South Korea’s Financial Supervisory Service undertook this, too. Depending on the findings, the FSS requested local authoritarian agencies as well as companies to jointly work and develop an incorporated blockchain system.

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