ICO Platform Planned By German Stock Exchange Boerse Stuttgartbr>
Boerse Stuttgart, Germany’s second-largest stock exchange, is planning to develop a new initial coin offering (ICO) platform.
In April this year, Boerse Stuttgart announced that it will be launching a cryptocurrency trading app, called Bison, to offer fee-free access to investment in cryptocurrencies. The app, which is expected to be released in September, will initially support pairs with BTC, ETH, LTC, and XRP.
The stock exchange is now planning to extend its activities to the primary and secondary markets, which involves the creation of an ICO platform. The platform will allow the issuance of digital tokens used for either corporate financing or to represent rights and assets. It will also make it possible to carry out ICOs with standardized and transparent processes.
“At the trading venue tokens issued via our ICO platform can be traded on the secondary market,” said Alexander Höptner, Chief Executive Officer of Boerse Stuttgart. “This is an important success factor for ICOs.”
Boerse Stuttgart will also offer a “multilateral trading venue for cryptocurrencies,” where established cryptocurrencies like bitcoin and ethereum will also be traded. The full service infrastructure will be supported by solutions for safe custody.
“At the same time, we are responding to demand from both retail and institutional investors for a regulated and reliable environment for trading cryptocurrencies,” Höptner said. “In designing the strategic projects we closely cooperate with all competent boards and committees, and especially with the supervisory authorities.”
Last year, Boerse Stuttgart established a new digital division – dubbed Boerse Stuttgart Digital Ventures, and acquired a 100 percent stake in FinTech firm Sowa Labs, which is building the Bison app.