Boerse Stuttgart Group is also developing an ICO platform.
Boerse Stuttgart Group (BSG), Germany’s second largest stock exchange, has announced plans to launch an end-to-end infrastructure for digital assets.
As we approach the first anniversary of Bitcoin’s highest price of $20,000, the coin has steadily declined in value throughout 2018, as has the rest of the market. Since its peak, the crypto-giant has now slumped to its lowest price this year of just over $3,200.
In its bid to improve the liquidity of the crypto market, BSG is partnering with solarisBank to develop a trading system for its new platform. The stock exchange will be using solarisBank’s crypto banking services to enable private and institutional investors to trade digital assets. The platform is expected launch in the first half of next year.
SolarisBank launched in 2016 and is a financial services provider for companies. It enables its partners to offer financial services such as payment systems, e-money, lending and digital banking using its application programming interfaces (APIs).
Initially the platform will only be supporting the cryptocurrencies Bitcoin and Ethereum. BSG is also currently developing an Initial Coin Offering (ICO) platform on which coins that go live will be available for trading in the secondary market, using BSG’s new exchange technology.
Roland Folz, CEO of solarisBank, said: "Boerse Stuttgart Group and solarisBank share the ambition to shape the future of the financial industry. A reliable and performant trading venue is a fundamental contribution to our shared vision of a hybrid financial world with both fiat and crypto currencies."