Boerse Stuttgart, Germany's second-largest stock exchange, said it has opened a regulated trading venue for digital assets.
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According to a statement, the German Boerse Stuttgart Digital Exchange (BSDEX) started trading today. BSDEX is a digital asset exchange that is fully regulated under the German Banking Act. So far, BSDEX only trades one trading pair – bitcoin versus euro.
The Boerse Stuttgart Exchange announced in December 2018 that it plans to launch a fully regulated digital asset exchange, initially scheduled for launch in the first half of 2019.
BSDEX will be open to German retail investors and institutional investors, and will gradually expand to the entire EU. Like other cryptocurrency exchanges, the exchange's trading services will be available almost 24/7. In an interview with CoinDesk, the exchange said it plans to increase its Ethereum, Litecoin and XRP Euro trading pairs this year and add other token assets sometime in 2020.
Dr. Dirk Sturz, CEO of the exchange, said in a statement:
"The cryptocurrency market is worth billions of dollars, and more digital assets will emerge on the blockchain. Our goal is to create leading European trading venues for these assets."
The Boerse Stuttgart exchange cooperated with Solaris Bank on the plan. The bank will handle the payment and custody of euro funds.
“BSDEX will allow retail and institutional investors to directly acquire digital assets and provide flexible and relatively low-cost transactions. We believe that the blockchain will bring significant changes in the financial industry, and we want to leverage its potential to create future trading venues. "BSDEX Chief Technology Officer Peter Großkopf said in a statement.
A year ago, Boerse Stuttgart announced the launch of an ICO platform, which recently began trading Litecoin (LTC) and Ripplecoin (XRP) exchange-traded notes (ETNs).