Germany’s second-largest stock exchange, Boerse Stuttgart Group, has gone live in full capacity with its trading venue for digital assets. As of today, the newly launched Boerse Stuttgart Digital Exchange (BSDEX) is available to all users in Germany and also for residents in the European Economic Area (EEA).
The spinoff of Europe’s ninth-largest stock exchange allows users initially to trade the Bitcoin-Euro pair, with further digital assets, to follow suit soon. The exchange plans to soon support secondary markets for tokenized assets. This includes a variety of tokenized securities built around markets such as real estate, investment funds, debt financing, and more.
Boerse Stuttgart Group has opened its doors as a regulatory compliant offering to select users back in September 2019, bringing investors access to a variety of assets.
Boerse Stuttgart Digital Exchange GmbH, a joint venture of Boerse Stuttgart GmbH, Axel Springer, and finanzen.net, is the technical operator of BSDEX. blocknox GmbH, another subsidiary of Boerse Stuttgart Digital Ventures GmbH, takes care of the custody of the crypto holdings on an escrow basis, free of charge for BSDEX users.
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“Trading at BSDEX is almost 24 hours, seven days a week. Orders are executed directly against each other according to fixed rules. Open order books provide information about existing orders and the current market situation. In addition, financial services provider EUWAX AG, a subsidiary of Boerse Stuttgart GmbH, increases liquidity by providing buying and selling prices. At BSDEX, there are transaction fees based on the type of order,” the exchange further explains its technical specifications.
While the launch of BaFin-authorised exchange is definitely interesting, the German exchange is not the only one attempting to build a compliant crypto offering on such a highly regulated level. Many exchanges are also working on similar projects, yet in varying stages of offering clients access to digital securities exchanges.
The operator of the Swiss Stock Exchange, SIX Group, plans to launch its new blockchain-powered exchange. Dubbed SIX Digital Exchange (SDX), the platform had previously projected a launch date in the second half of 2019.
SIX is the parent company of Switzerland’s main stock exchange, and SDX will also operate under FINMA authority’s standards of regulation and oversight
German stock exchange operator Deutsche Boerse has also set up a unit focused on blockchain and crypto assets to explore the technology for various use cases.