The Birth of a Crypto Exchange
In a groundbreaking collaboration, the Stuttgart Exchange Group and SolarisBank are creating the infrastructure for a state-of-the-art cryptocurrency exchange. This partnership signifies a significant step in integrating traditional finance with the fast-evolving world of digital currencies.
A Little About the Players
Founded back in 1860, the Stuttgart Exchange holds the title of the second-largest stock exchange in Germany and ranks ninth in Europe. Meanwhile, SolarisBank, a young but ambitious fintech established in 2015, is known for its innovative “Banking as a Platform” service, paving the way for various blockchain projects.
Zero-Fee Trading App on the Horizon
In a hint of what’s to come, the Stuttgart Exchange announced in May plans for a zero-fee cryptocurrency trading application. This initiative aims to make trading more accessible and appealing to both novice and seasoned traders alike.
Building the Future
The launch is anticipated in early 2019, with SolarisBank stepping in as the banking platform for the new exchange. "A reliable and efficient trading platform is an elementary contribution to our vision of a hybrid financial world with both fiat and cryptocurrencies," noted Roland Folz, CEO of SolarisBank.
Trading Opportunities Galore
When the exchange goes live, retail and institutional investors will be able to trade Bitcoin (BTC) and Ethereum (ETH). Additionally, the companies are developing an Initial Coin Offering (ICO) platform which will enable tokens to be traded on secondary markets.
The Blockchain Factory Initiative
This venture is part of SolarisBank’s "Blockchain Factory" initiative, which aims to support blockchain companies through specialized accounts. Notably, SolarisBank has also formed partnerships with other financial institutions like VPE WertpapierhandelsBank AG to provide cryptocurrency services tailored for institutional investors.
Bitwala Launches with a Bang
In other exciting news, Bitwala, a crypto-banking startup operating under SolarisBank, has officially opened its doors. With 40,000 lives registered customers lined up, it is offering access to Bitcoin and euro deposit accounts. The funds deposited are safeguarded up to €100,000, thanks to the robust oversight by Germany’s banking regulators, BaFin, and Bundesbank.
Conclusion: The Future Looks Bright
This collaboration between Stuttgart Exchange and SolarisBank illustrates the growing convergence of traditional finance and cryptocurrency. With their sights set on creating a secure and user-friendly trading environment, they are paving the way for both experienced investors and curious newcomers to delve into the crypto realm. Get ready, folks—the crypto train is coming, and it’s packed to the brim with exciting prospects!
