Germany’s Boerse Stuttgart, SolarisBank to Launch Crypto Exchange in 2019
The second-largest German stock exchange has partnered with fintech company SolarisBank for a new crypto trading venue.
Boerse Stuttgart Group, Germany’s second-largest stock exchange, and fintech company SolarisBank have announced plans to launch a crypto trading venue in the first half of 2019.
SolarisBank said in a press release on Wednesday it would act as a technology and banking partner in the project. The statement quoted Boerse Stuttgart CEO Alexander Hoeptner as saying:
“With its combination of technology and banking expertise, solarisBank is a great partner for us to offer central services along the value chain for digital assets.”
Roland Folz, the CEO of SolarisBank, further noted that a reliable and efficient trading platform is essential in a financial world where both fiat and cryptocurrencies exist side by side.
The new platform will be available to both retail and institutional investors, with order options comparable to securities trading. It will offer fiat and crypto trading pairs, with Bitcoin (BTC) and Ethereum (ETH) first on the list of supported assets, the press release said.
Earlier this year, Boerse Stuttgart presented BISON, a mobile application designed to facilitate market access and allow free and secure trading of cryptocurrencies. Following demand from institutional and retail investors, the company decided to expand its crypto services, developing an initial coin offering (ICO) platform. After the establishment of the ICO platform, tokens issued there will also be available for trading in the secondary market, according to the latest update from the exchange.
Separately, Bitwala, a German crypto banking startup operated by SolarisBank, also reported on Wednesday that it had opened for business, onboarding 40,000 pre-registered customers. Users can now manage Bitcoin and euro deposits in one place with the “safety and convenience” of the German bank account, Bitwala said in its press release.