Germany's Second Largest Stock Exchange to Develop ICO Platform

Germany’s Second Largest Stock Exchange to Develop ICO Platform

Germany’s second-largest stock exchange, Stuggart Börse, announced its plan of developing an ICO (Initial Coin Offering) platform, on August 2, according to a report by Finextra.

The bourse had a trading volume of more than $95 billion across all asset classes last year. Moreover, it had its sight set on developing a crypto trading app, and revealed a prototype of the same for the public a couple of months ago. Dubbed “Bison”, the zero-fee trading app will be available by September this year.

The bourse now has its sight set on not just the primary markets but secondary markets as well, and has therefore designed a multilateral crypto trading venue along with its ICO platform.

Stuggart Börse CEO Alexander Höptner told Finextra that the plan to develop an ICO platform is its response to the increasing demand for a reliable and regulated crypto trading environment from both retail and institutional investors. He added:

“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.”

Furthermore, the bourse seeks to provide central services for all crypto assets along the value chain, under one roof. Therefore, it is working towards an infrastructure that will include custody solutions for established cryptocurrencies like bitcoin and ethereum and also for emerging digital assets.

The trading app is being developed by Sowa Labs, a local data analytics startup acquired by the bourse back in December 2017 as part of completing its “digital strategy”.

Beyond digital currency, stock exchanges around the world are looking for ways to integrate the underpinning blockchain technology to improve their operations by increasing the efficiency.

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