Boerse Stuttgart Group, which runs the second-biggest stock exchange in Germany, recently launched a crypto trading platform that is fully compliant with German laws. Customers will be able to sign in to the new platform directly and trade BTC against the EUR without using a broker.
First Regulated Crypto Trading Platform in Germany
The launch makes this platform the first regulated platform for crypto in Germany. The Boerse Stuttgart Digital Exchange (BSDEX) will be an invitation-only platform. However, it could soon be open to members of the public with both individual and retail investors being allowed to operate on the exchange.
According to the CEO of the new exchange, the crypto market is worth billions and more digital assets powered by the blockchain will be created. He said that the goal was to lead the main trading platform for those assets in Europe. The company has said that the exchange complies with all German laws.
Before launching this exchange, Boerse Stuttgart had launched the Bison crypto app at the start of this year. The app had collaborated with Euwax as its trading partner. Users were able to install the app, which they could use to trade in for crypto coins at no cost. The coins offered were ETH, BTC, XRP, and LTC. To use this app, you do not need to own a crypto wallet; the only requirement is that you own a German bank account.
To run its exchange, BSDEX has partnered with Solarisbank, which is its banking and tech partner. The bank will oversee the processing of payments and maintain custody of deposits by customers. This bank is fully regulated under German banking laws.