Germany’s Second Largest Stock Exchange Will Launch its Crypto Exchange in Early 2019

Germany’s second largest stock exchange, Boerse Stuttgart, has announced that its crypto exchange will launch soon, with beta testing expected to start in January 2019. The exchange will run its operations through an app called Bison App.

Originally expected to arrive in September 2018, the release has been postponed to 2019. The exchange will start with support for Bitcoin, Ethereum, Ripple, and Litecoin, though more cryptocurrencies will be supported in the future.

The Bison App is aiming to make entry into the cryptocurrency market as intuitive and accessible as possible. Ulli Spankowski, app developer and Managing Director of Sowa Labs, said that the registration process and KYC requirements would take no more than a few minutes.

Perhaps most interesting is the inclusion of a “Cryptoradar” tool. The latter will analyze tweets from over 25,000 from crypto traders, sublimated in a way that will allow the exchange users to see how the market is moving. Other crypto exchanges are also giving some level of info of this kind — Coinbase will be providing users with news on their dashboard, for example.

Earlier this month, Boerse Stuttgart announced that it would be cooperating with solarisBank to the end of developing a crypto trading systems. SolarisBank will be the banking partner for the venture.

Alexander Höptner, CEO of Boerse Stuttgart, states:

“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. solarisBank’s Blockchain Factory supports us in taking trading in crypto currencies and tokens to the next level and in setting new standards in transparency and reliability.”

Germany has generally opened up to cryptocurrency in the past year, though authorities are aware of the volatility and the market’s capacity for fraud. The nation’s financial watchdog, BaFin, has its job cut out for it — last month, it ordered that Crypto-Capitals cease its operations. Germany and France have decided to work together to construct a framework for crypto regulation, while the EU is encouraging blockchain innovation.

KYC and AML compliant exchanges and crypto services will likely make it through the gauntlet. While also keen on protecting consumers and preventing unlawful activity, Germany is aware that there is a lot to be gained from adopting blockchain technology early.

1 Comment

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