Boerse Stuttgart, one of Germany's largest cryptocurrency exchanges, has opened a regulated unit with the help of which it will supervise the spot trading of Bitcoin on the new platform.
Spot trading started on the Boerse Stuttgart Digital Exchange (BSDEX) on Monday, platform regulation is carried out in accordance with the provisions of the local Banking Act. Currently, only one pair is represented at BSDRX – BTC / EUR.
Boerse Stuttgart's intention to introduce a fully regulated digital asset exchange was announced back in December 2018. Initially, the exchange wanted to launch the site in the first quarter of 2019. BSDEX intends to gradually open up new services for retail and institutional investors, not only in Germany, but also in other EU countries. The platform will operate around the clock, 7 days a week, just like other crypto exchanges. This year, the exchange plans to add support for Ethereum, Ripple, Litecoin cryptocurrencies, which will be available in conjunction with EUR. It is assumed that in 2020 the new unit will deal with asset tokenization.
Dirk Sturtz, head of the crypto exchange, noted that the crypto market is valued at billions, and therefore, in the future, the blockchain will become the basis for many digital assets. Boerse Stuttgart wants BSDEX to become the leading platform for trading such assets in the EU. It is known that the exchange began to cooperate with SolarisBank to achieve this goal; the banking institution will handle transactions and store funds in EUR.
