Boerse Stuttgart, Germany’s second-largest stock exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term, has strengthened its digital business with additional investment from Tokyo- based financial services firm, SBI Group, and digital publisher, Axel Springer. Boerse announced on Friday that both firms are now completely committed to their digital business.

Under its digital business, the German stock exchange offers trading and crypto custody solutions to institutional clients. In addition, it offers retail crypto trading via the BISON app which was launched in 2019.

In a statement on Friday, Boerse Stuttgart, the sixth largest exchange group in Europe, disclosed that it intends to organize all of its digital activities under a new arm to be called Boerse Stuttgart Digital which will be launched “in the future.”

Speaking in the statement, Dr Matthias Voelkel, the CEO of Boerse Stuttgart Group, expressed excitement at the new investment, adding that both Axel Springer and SBI Group share the company’s “growth ambition.”

“The fact that Axel Springer and SBI Group are expanding their strategic partnership with Boerse Stuttgart Group underlines their trust in the digital business of our Group as a regulated player,” Dr Christian Ricken, the Chairman of the Executive Committee of Boerse Stuttgart Group, added.

Watch the recent FMLS22 session on retail and institutional trading.

Boerse Stuttgart Expands BISON

Meanwhile, Axel Springer and SBI Group’s expanded investment in Boerse Stuttgart comes almost two months after the stock exchange increased BISON’s digital asset portfolio to 17 cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term with the addition of seven new coins. The new cryptocurrencies added were ALGO (Algorand), SAND (Sandbox), SHIB (Shiba Inu), AAVE (Aave), MANA (Decentraland), MATIC (Polygon) and DOGE (Dogecoin).

In a statement, Dr Ulli Spankowski, who doubles as the Chief Digital Officer of Boerse Stuttgart Group and the CEO of BISON, noted that the company remains committed to offering its customers “a safe, reliable environment to trade and store their cryptocurrencies.”

Meanwhile, in May last year, FlatexDegiro, a Germany-based online securities broker, diversified into crypto trading, providing initial access to digital asset trading for its customers via Boerse Stuttgart’s BISON app. On top of that, the broker onboarded the services of Blocknox, another Boerse Stuttgart’s subsidiary, to custody its clients’ digital assets.