Germany’s second-largest stock exchange has announced the launch of a bitcoin trading platform on its digital division, which will be fully regulated.
According to the report , the Digital Exchange of the Stuttgart Stock Exchange (BSDEX) has launched bitcoin trading as of Sept. 23. BSDEX’s launch marks the first time German investors will have access to a fully regulated exchange for buying and selling the cryptocurrency. The report claims that only select clients will have access to bitcoin trading in the beginning, with the program planning to expand to include institutional investors.
The technical operator for BSDEX will be Boerse Stuttgart Digital Exchange GmbH, working in a joint venture that includes Boerse Stuttgart to support the exchange.
Dr. Dirk Sturz, CEO of Boerse Stuttgart Digital Exchange GmbH, commented on the importance of the launch,
With cryptocurrencies, a billion dollar market has emerged. Based on the blockchain, further digital assets will be established. For this we want to build the leading European trading center.
Peter Grosskopf, CTO of GmbH, explained how the exchange will be handling investor interaction,
Private and institutional investors will have direct access to digital assets through BSDEX, which they can trade flexibly and at relatively low cost. The blockchain will change the financial industry sustainably. We are picking up on the technology trend and building the trading center of the future.
The press release claims that investors will be able to interact directly with the trading platform, as opposed to requiring a third-party broker.
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