SolarisBank and Stuttgart Exchange Ready to Launch a New Cryptocurrency Exchange
SolarisBank has decided to sign a partnership with the Stuttgart Exchange Group in order to develop a virtual currency exchange. The information was unveiled in a press release by SolarisBank on December 12.
The decision that was taken by the Stuttgart Exchange is related to the intention of releasing a crypto trading app called Bison. The Stuttgart Exchange is the second-largest in the country and one of the largest in Europe.
This new cryptocurrency exchange is scheduled to launch during the first half of 2019 and SolarisBank will be working as the banking platform of the exchange. The main two virtual currencies to be available for trading are going to be Ethereum (ETH) and Bitcoin (BTC). It is important to mention that both institutional and retail investors will have access to these assets.
At the same time, there will be a platform specifically designed for Initial Coin Offerings (ICOs). Tokens that will be listed in this platform are going to be available for trading on secondary markets.
SolarisBank has an initiative, related to cryptocurrencies, that is called ‘Blockchain Factory.’ Customers of the bank are going to have access to banking services specifically designed for blockchain and crypto companies. There will also be two supervisory authorities, the BaFin and the Bundesbank that are going to control the operations processed.
This shows that there is a real interest in blockchain technology and cryptocurrencies in several customers. Furthermore, this will help clients to have access to virtual currencies in a regulated and predictable way. Germany is trying to remain an active player in a very competitive crypto market in Europe.
Berlin is one of the cities where an important number of crypto companies are located and already working.