Second-Largest Exchange in Germany Starts Bitcoin (BTC) Spot Trading
The second-largest stock exchange of Germany, Exchange Boerse Stuttgart, has recently opened up a new branch to trade digital assets, the Boerse Stuttgart Digital Exchange (BSDEX). This new platform, which will be fully regulated by the local law, will start the trading of virtual assets, starting with a single trading pair: BTC/EUR.
Initially, the launch of the exchange was prepared to be made in the first half of 2019. However, as it happened to many other companies this year, the plans were delayed in order to be fully compliant with rules and requirements.
Now, BSDEX will be open for investors. At first, only investors from Germany (both retail and institutional ones) will be able to access the platform. However, after some time, it is expected that investors from all over the EU can trade as well.
The idea is to have a digital platform that will be open 24/7 and to add more trading pairs over time. While no asset is guaranteed to be listed, Ethereum (ETH), Ripple’s XRP and Litecoin (LTC) are all expected to be listed until the end of 2020.
Dirk Sturz, the CEO of the exchange, affirmed that the market is worth billions, so the company is focused on creating a platform that will cater to the European market of cryptos. Peter Großkopf, CTO at BSDEX, affirmed that the digital platform will give the customers access to low-cost trading and will help to shape the market in the future.
This is not the first crypto project of Boerse Stuttgart. The company has already participated in an Initial Coin Offering (ICO) before.