Boerse Stuttgart has announced that it is working on an end-to-end solution for cryptocurrency trading, crypto custody and Initial Coin Offerings (ICOs) among other cryptocurrency-related offerings.
Boerse Stuttgart is currently the second largest German stock exchange platform and it is one of the traditional exchanges that have embraced cryptocurrencies. The exchange is planning to launch a new cryptocurrency trading app called BISON which will reportedly not charge any commission. However, this is not the first time that the exchange has talked about the upcoming platform.
?Boerse Stuttgart Group is creating an end-to-end infrastructure for digital assets,? the German stock exchange announced.
The announcement further pointed out that the launch of the BISON crypto trading app also highlights Boerse Stuttgart?s ongoing digitization strategy. The exchange has also been working towards becoming a leader when it comes to the digitization of financial products, as well as financial markets.
Boerse Stuttgart made the initial reveal about BISON on April 13 this year through two of its subsidiaries, namely Sowa Labs and the Boerse Stuttgart Digital Ventures. The two claimed that BISON would be the first crypto trading app to be backed by a traditional stock exchange. According to Alexander H?ptner, the CEO of Boerse Stuttgart GmbH, the group has enough technical know-how and experience to come up with a viable infrastructure to support the BISON app.
Upholding high standards with the new offerings
In one of his statements, H?ptner pointed out that the platform can provide key services across the digital asset value chain and all of the offerings can be accessed in one ecosystem. The CEO also noted that Boerse Stuttgart is known for being transparent, reliable and providing good quality services. The group wants to make sure that the same standards are deployed in the digital world to encourage the use of digital currencies.
Boerse Stuttgart also revealed that it will soon make the custody service for the BISON app available across all the entire value chain including the trading app itself. The involvement of the stock exchange with matters relating to cryptocurrencies is quite a refreshing development to the cryptocurrency market.