German-based stock exchange ‘Boerse Stuttgart’ holding the position of the second-biggest stock exchange in Germany and the ninth-largest in Europe has revealed its plan to launch a new crypto trading platform in the second quarter of 2019. The stock exchange publicly shared about the same on 12th December 2018 through a press release.
Alexander Höptner, the CEO of Boerse Stuttgart GmbH in the media release mentioned “With its combination of technology and banking expertise, solarisBank is a great partner for us to offer central services along the value chain for digital assets. solarisBank’s Blockchain Factory supports us in taking trading in cryptocurrencies and tokens to the next level and in setting new standards in transparency and reliability.”
For establishing an end-to-end infrastructure for cryptocurrencies Boerse Stuttgart in the next few months will collaborate with solarisBank. This collaboration will allow public market investors to trade digital assets over the new crypto trading platform.
How Europe will be affected by the new platform?
Ever since cryptocurrencies started impacting the financial market, Europe has struggled to cope up with market trends that were establishing the infrastructure around blockchain and crypto. Despite its lead in innovation and talent, Europe has let other counties to move ahead in the competition.
It is only because of this, why we nowadays see the value of startups rising in crypto friendly countries such as the US which notice the highest number of startups in the world. In fact, South Korea, Japan, and Singapore have become the largest cryptocurrency markets in terms of volume.
According to a report from cryptocurrency market data provider CryptoCompare, almost a year ago, major cryptocurrencies such as Ethereum and Bitcoin both had most of their daily volumes concentrated in South Korea, Japan, and the U.S.
Now, it might be the right time when Boerse Stuttgart has revealed their plan to develop a cryptocurrency trading platform. This will somehow reduce some burden from the mind of financial investors who are looking to make some profits by investing in the new technology. Also, digital asset exchanges in Europe in the last couple of years have gathered record decent volumes which are sufficient enough to compete against established markets.
Furthermore, the European market apart from regulating fiat-to-crypto trading platform such as Bitstamp has allowed local, institutional investors, as well as accredited individuals in, make an investment in several publicly-traded investment vehicles.
Last month in November, Amun Crypto Exchange Traded Product (ETP) was given green light by the Swiss regulators that track the price of 5 major cryptocurrencies in the market. At that time, Hany Rashwan the CEO and co-founder of Amun mentioned that “We believe Switzerland to be the best jurisdiction for our base and intend, after launching our initial products on the SIX Swiss Exchange, to both launch additional products as well as dual-list across additional geographies and stock exchanges.”
If Swiss regulators will emphasize strengthening crypto and make more regulated options for financial investors, it will directly impact the liquidity of cryptocurrencies and add more stability to the digital assets.