Stuttgart Stock Exchange launches regulated Bitcoin trading platform - "Can rise to market leader in token economy".The adaptation of crypto currencies such as Bitcoin, Ethereum and Co. in a regulated trading environment continues. Starting today (September 23), the Digital Exchange of the Stuttgart Stock Exchange (BSDEX) is offering Bitcoin trading. According to the press release, BSDEX is the first regulated trading place for digital assets in Germany where investors' orders are executed directly against each other according to fixed rules.Initially, trading will only be accessible to selected customers, but further private investors and, in the future, institutional investors will be admitted to trading step by step.What are the aims of the project?The technical operator of BSDEX is Boerse Stuttgart Digital Exchange GmbH, a joint venture of Boerse Stuttgart GmbH, Axel Springer and finanzen.net. "Crypto currencies have created a market worth billions. Further digital assets will be established on the basis of the blockchain. We want to build the leading European trading center for this purpose," says Dr. Dirk Sturz, CEO of Boerse Stuttgart Digital Exchange GmbH, which has been active on the Stuttgart stock exchange since 2007. "Private and institutional investors will have direct access to digital assets via BSDEX, which they can trade flexibly and at relatively low cost. The blockchain will change the financial industry in the long term. We are taking up the technology trend and building the trading centre of the future," says Peter Großkopf, CTO of Boerse Stuttgart Digital Exchange GmbH.How does trading work?According to the press release, investors do not need a broker, but can connect directly to the trading platform. Trading is to take place "almost around the clock, seven days a week". Initially, market and limit orders will be set for trading, further order options will be added over time.Where are the Bitcoins stored?The press release states: "blocknox GmbH, a subsidiary of Boerse Stuttgart Digital Ventures GmbH, will hold the free custody of the digital assets acquired on the BSDEX in trust. So you don't need your own wallet to trade, you just need a trading account with BSDEX to trade.Link to original article (German): https://ift.tt/2myavzF
Submitted September 23, 2019 at 07:10PM
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