The Second Largest Stock Exchange In Germany Is Working In An ICO Platform
The second largest stock exchange in Germany and one of the most important in Europe is working in an ICO platform. The information has been announced on Thursday by Boerse Stuttgart.
The main intention is to roll out the platform with the purpose of creating an ‘end-to-end infrastructure’ for crypto and digital assets. The exchange is currently developing the platform and it will allow token issuers to conduct token sales with a set of ‘standardized and transparent processes.’
The statement states that there will be a multilateral trading venue for cryptocurrencies and other solutions for safe custody. Bison is the name of the app and it will be released later in September 2018. The debut of the ICO platform and trading venue will come right after Bison’s app launch. The custody services will be ready even before the release of the application.
Alexander Hoptner said that the company is also analysing secondary markets and has designed the new services accordingly. About it, Mr. Hoptner commented:
“At the trading venue tokens issued via our ICO platform can be traded on the secondary market. This is an important success factor for ICOs. At the same time, we are responding to demand from both retail and institutional investors for a regulated and reliable environment for trading and cryptocurrencies.”
As many other companies in the sector, Boerse Stuttgart aims to cooperate with different regulatory agencies and governments. The main intention behind that is to be compliant with the different rules stipulated. Additionally, and an interesting point to mark is that they will be offering central services along the value chain for digital assets with the goal to help promoting the acceptance of these kind of assets.
This is not the first stock exchange that aims to enter the cryptocurrency market. We can mention the Canadian stock exchange TMX that announced at the beginning of the year that it arranged a deal to work on a crypto brokerage focused on Bitcoin (BTC) and Ether (ETH).
Other stock exchanges such as the Australian Securities Exchange (ASX), started working with distributed ledger technology (DLT). In the future many other companies and exchanges may start offering crypto-related services and products.