German Stock Exchange, Boerse Stuttgart Creates An ICO Platform

Aug 6, 2018 at 03:30 Update Date :Aug 6, 2018 at 03:30 UTC

The second largest stock exchange of Germany, Boerse Stuttgart, is now integrating itself more and more into the crypto-industry. Expanding on its crypto investments, the exchange announced that it has decided to make a new trading platform, wherein token issuers would be able to conduct ICOs using “standardized and transparent” procedures.

Boerse Stuttgart is overshadowed in Germany only by the Frankfurter Wertpapierbörse exchange. It’s is ranked 10th in Europe, with a transactional volume of €81 billion across all kinds of assets in 2017. The firm created a “Digital Ventures” unit in September last year, and also acquired a local analytics group named Sowa Labs. Earlier in 2018, the firm had announced that it was creating a new crypto trading app called Bison, which would serve to pull down several barriers to crypto trading that were dissuading potential investors. The app is expected to be ready by September. It will initially offer transactions in BTC, ETH, XRP, and LTC, with more tokens to be added soon.

With the platform, the exchange plans to extend its crypto businesses into the primary and secondary markets. The platform will let tokens be issued for whatever corporate or private asset-based purposes. The hosted ICOs will be trading their tokens parallely with some of the leading cryptos like BTC and ETH.

CEO of Boerse Stuttgart, Alexander Höptner explained:

“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. At the same time, we are responding to demand from both retail and institutional investors for a regulated and reliable environment for trading cryptocurrencies.”

Höptner says that his exchange plans to work closely with financial regulators. He stated that all of this shows the firm’s inclination towards the “digital transformation of financial markets and financial products.”

Germany has been known for their careful dealing with digital currencies and the industry as a whole. Cryptos are not subjected to VAT in the country when exchanged. Profits that are have been made from long-term investment into cryptocurrencies are also spared from the capital gains tax.

Leave a Reply

Please Login to comment
Notify of