German-based financial giant Boerse Stuttgart is diversifying its offer for investors with new cryptocurrency-powered tools.
Boerse Stuttgart, located in Stuttgart, is Germany’s second-largest stock exchange set up by its parent company Vereinigung Baden-Württembergische Wertpapierbörse e.V. Recently, the financial institution announced it plans to create an end-to-end environment dedicated to crypto trading.
The company is not on its first crypto project. About two months ago, the stock company revealed it will release a cryptocurrency exchange app dubbed Bison. Besides this project, which is scheduled for launch this autumn, the company calculates all steps in advance.
Boerse Stuttgart to release an ICO platform
Thus, Boerse Stuttgart is currently looking to launch an Initial Coin Offering (ICO) platform to monitor the process of virtual tokens issuance.
Under the project dedicated to creating a cryptocurrency infrastructure, Boerse Stuttgart is currently working on designing a fully-fledged trading platform and a custody option.
Alexander Höptner, CEO at Boerse Stuttgart GmbH, pointed out:
“We can offer central services along the value chain for digital assets, all under one roof. Investors and market participants know that Boerse Stuttgart Group stands for quality, transparency and reliability. As a Germany-based provider we want to transpose this standard into the digital world. We will help to promote acceptance of digital assets.”
The news on Boerse Stuttgart’s intentions comes at the same time when the New York Stock Exchange (NYSE)’s subsidiary – the Intercontinental Exchange (ICE) revealed it is set to design a “global digital asset platform” dubbed Bakkt in collaboration with giants such as Microsoft and Starbucks.
The latter one seems to be “the biggest news of the year” for Bitcoin (BTC) as reported by crypto commentator and owner of investment firm BKCM LLC Brian Kelly:
“They’re talking about getting this into your 401(K). They’re talking about in your…. Fidelity or TD Ameritrade account, you’re going to be able to buy a bitcoin ETF, a bitcoin mutual fund. It expands the universe.”
Author: Adriana Midrigan