A Bold Move in the Crypto Sphere
Germany’s Stuttgart Börse is stepping up its game by unveiling plans to create a new platform dedicated to Initial Coin Offerings (ICOs) and a regulated multilateral crypto trading venue. This move comes in response to increasing demand from both retail and institutional investors who want a safe and reliable space to trade cryptocurrencies.
The Big Picture: Trading Volume and Ambitions
In 2017 alone, Stuttgart Börse recorded a trading volume of EUR 81 billion, approximately $95 billion across various asset classes. With such a robust foundation, the bourse aims to further solidify its place in the crypto market by offering dynamic services tailored to digital tokens.
Introducing Bison: A Zero-Fee Crypto App
Earlier this year, Stuttgart Börse unveiled a prototype for a zero-fee crypto trading app known as “Bison”. Slated for public release in September, this innovative tool is set to enhance user engagement and make crypto trading more accessible. It’s being developed by Sowa Labs, a local data analytics startup that was brought into the fold back in December 2017.
Building the Infrastructure: The ICO Platform
The proposed ICO platform is designed to facilitate the issuance of digital tokens while also enabling corporate financing and the representation of rights and assets. By making these tokens tradable on their secondary venue, Stuttgart Börse hopes to increase the likelihood of their success.
Quotes from the Top
Alexander Höptner, CEO at Börse Stuttgart, emphasized this strategy by stating, “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.” This succinctly captures the essence of why they are pursuing this venture.
A Comprehensive Approach to Digital Assets
In addition to the ICO platform, the bourse aims to provide full-service infrastructure dedicated to digital assets. This comprehensive approach includes safe custody solutions for both new digital assets and established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). The goal is to offer a complete package that addresses all aspects of trading digital assets.
Blockchain Technology in Stock Exchanges
Not just limited to cryptocurrencies, international stock exchanges are exploring the integration of blockchain technology to enhance the efficiency and security of operations. Reports indicate that South Korea’s Financial Supervisory Service is leading investigations into the global implementation of blockchain for stock transactions, urging local regulatory bodies to create an integrated system aimed at overhauling domestic stock markets.
