Borse Stuttgart And Axel Springer To Collaborate On A New Crypto Trading Platform
A joint crypto trading platform has been launched by a collaboration between one of Europe's digital publishing giants Axel Springer, and the one of Germany's stock exchange forerunners Borse Stuttgart, Including Finanzen.net which is subsidiary of Axel Springer.
The launching of the trading venue was made on the 27th of March by Finanzen.net, the foremost financial platform in the country, along with detailed statements released by the collaborating parties.
Shareholder Ratio Of The Platform
The trading venues main purpose is to join crypto trading and provide investment information under a single roof. To accomplish this, Borse Stuttgart (which had in 2018, a 1.72 trillion euros book order turnover) will be the largest shareholder of the joint trading venue.
Axel Springer and Finanzen.net, which already have a standing relationship with Borse Stuttgart will control 30% of the joint venture, will be domiciled in Stuttgart, and have a Berlin office.
Reports state that the years of experience of Axel Springer in development of viable digitals business models will be a major value they can add to the collaboration.
Launch And Objectives
The Platform (no official name has been given ) is scheduled for release by summer of 2019 in Germany and is speculated to cater for both institutional and retail investors. The joint venture is still on hold pending the authorization from antitrust authorities and other approving parties.
The chairman of the exchange’s management board, Alexander Hoptner, stated that the joint initiative will provide its investors with “comprehensive and integrated services for digital assets – from in-depth information to trading and custody.”
Borse Stuttgart announced its plans to launch a commission-free digital asset trading app “BISON” in May of 2018 which was launched in January. A subsidiary of the company caters for cryptocurrency management services on Bison with external banking partners which allows payments in euros and provides fiat money management services on the app.