German Stock Exchange Stuttgart Börse to Launch ICO and Crypto Trading Platform
Stuttgart Börse, the second largest stock exchange in Germany, plans to launch a platform for initial coin offerings (ICOs) and cryptocurrency trading.
UK financial media outlet Finextra reported on August 2 that Stuttgart Börse is “doubling down” on its investment in crypto, unveiling plans to develop a new platform for ICOs, a “multilateral and regulated trading venue” for cryptocurrencies, and a custodial solution for digital assets.
The German stock exchange, which posted a trading volume of EUR 81 billion ($95 billion) in 2017, unveiled a prototype of a zero-fee crypto trading app called Bison, which is set to be released in September.
According to Finextra, Stuttgart Börse’s “next move will see it extend its activities to the primary and secondary markets” with an ICO platform that enables projects to issue digital tokens, seek corporate financing, or for representation of rights and assets.
Stuttgart Börse CEO Alexander Höptner revealed that tokens from ICOs launched on the platform will then “be traded on the secondary market,” adding that this is “an important success factor for ICOs.”
“We are responding to demand from both retail and institutional investors for a regulated and reliable environment for trading with cryptocurrencies," Höptner added.
The Gibraltar Blockchain Exchange (GBX) has also launched an ICO platform and secondary exchange where ICO projects can list their tokens after a public sale.