BY CNA team - August 3, 2018
Boerse Stuttgart to set up ICO platform
Boerse Stuttgart, Germany’s second-largest stock exchange and the ninth largest in Europe, is setting up an initial coin offering (ICO) platform just months after announcing that investors will be able to trade cryptocurrencies from an app starting in September.
The stock exchange says in a media release that the plan is for the creation of an end-to-end infrastructure for digital assets that includes the ICO platform, a multilateral trading venue for cryptocurrencies as well as solutions for safe custody.
It adds that after the launch of Bison, the app being built by Sowa Labs, a unit of the stock exchange, for trading cryptocurrencies, the stock exchange will be extending activities to the primary and secondary markets, with the ICO platform.
Boerse Stuttgart CEO Alexander Höptner says as an established market player with extensive know-how in the fields of technology, regulation and trading models, the stock exchange can offer central services along the value chain for digital assets under one roof.
“At the trading venue tokens issued via our ICO platform can be traded on the secondary market. This is an important success factor for ICOs. At the same time, we are responding to demand from both retail and institutional investors for a regulated and reliable environment for trading with cryptocurrencies,’ he says, adding that bitcoin and ethereum will also be traded.
The launch of the Bison app is to be complemented with the solutions for safe custody that will eventually be made available along the entire value chain.
Most major stock exchanges are still wary around cryptocurrencies and ICOs, with Nasdaq CEO Adena Friedman saying that cryptocurrencies can become a “financial element of the internet” but expressing concerns over ICOs taking advantage of retail investors with little knowledge of how these digital assets work.
Image courtesy of Boerse Stuttgart website.