Second-largest German stock exchange is launching a Bitcoin trading platform starting on September 23. Digital Exchange of Stuttgart Stock Exchange (BSDEX) will be Germany’s first platform, where investors can interact without intermediaries. The platform will start operating today.
Germany’s first peer-to-peer Bitcoin trading platform
Reportedly, this Bitcoin trading platform is the country’s first peer-to-peer trading platform. The platform is regulated and only available to limited clients for the time being. However, more people will be allowed to access the platform as time passes. Eventually, the platform will support institutional investors as well.
The Digital Exchange of the Stuttgart Stock Exchange (BSDEX) comes under the Boerse Stuttgart Digital Exchange GmbH. The latter is a joint venture that includes the Boerse Stuttgart, i.e. the second largest German stock exchange.
Dr. Dirk Sturz, the CEO of Boerse Stuttgart Digital Exchange, noted that cryptocurrencies have developed into a billion-dollar market. Sturz added that the team is looking to make the leading European trading center to tap into the market’s potential.
Meanwhile, project CTO stated that the platform would allow investors direct access to digital assets. The absence of intermediaries would increase platform flexibility and reduce its costs. He noted that blockchain technology would revolutionize the financial ecosystem. He then added that the team is only picking up on the trend and working to build a trading center of the future.
Currently, the platform will support a limited userbase with a restricted set of trading options. However, as time goes on, other trading options will also be included in the platform. Furthermore, the company has launched a mobile application called Bison that allows users to trade cryptocurrencies with euros.
