Boerse Stuttgart Group and SBI Group will establish a partnership in Europe and Asia, including Japan, in the digital asset business. Both partners will collaborate in order to create a truly global end-to-end ecosystem for digital assets, utilizing blockchain technology.
In order to reinforce the partnership, SBI Holdings, Inc. will invest in Boerse Stuttgart Digital Exchange GmbH and plans to invest in Boerse Stuttgart Digital Ventures GmbH. Both subsidiaries of Boerse Stuttgart Group conduct digital asset-related businesses in Germany and Europe.
Boerse Stuttgart Digital Exchange GmbH is a joint venture of Boerse Stuttgart GmbH, Axel Springer SE and finanzen.net GmbH. It is the technical operator of Boerse Stuttgart Digital Exchange (BSDEX), Germany’s first regulated trading venue for digital assets. BSDEX meets the regulatory requirements in accordance with section 2, paragraph 12 of the German Banking Act and combines all the potential of blockchain technology with the reliability of an established financial market player.
Boerse Stuttgart Digital Ventures GmbH is leading the digitization strategy of Boerse Stuttgart Group. Its subsidiaries are Sowa Labs GmbH, who has developed the cryptocurrency trading app BISON, and blocknox GmbH, a custodian for digital assets. Boerse Stuttgart Digital Ventures GmbH is aiming to advance innovative fields that will lead to the next generation of finance while complying with regulations in the digital asset field.
The SBI Group has begun to establish its digital asset ecosystem from early 2016. Recently SBI Securities 5 other Japanese brokerage firms established the Japan Security Token Offering (STO) Association, as of October 1, 2019, chaired by Yoshitaka Kitao. The SBI Group has also supported the launch of the first Japan-Vietnam money transfer service using blockchain technology, in partnership with U.S. Ripple, as announced in November 15, 2019. Examples of the companies affiliated under the SBI Group’s digital asset ecosystem are: SBI VC Trade, one of the first crypto-asset exchanges registered in Japan, SBI Crypto, which specializes in crypto-asset mining, SBI Crypto Investment, which invests in digital asset startup companies, and SBI Mining Chip, that manufactures crypto-asset mining chips and develops mining systems.
Yoshitaka Kitao, President and Representative Director of SBI Holdings stated:
“Given that the digital asset has the characteristic of decentralized value, the highest priority upon establishing our digital asset ecosystem is to find trustable financial partners globally. The SBI Group, including its crypto-asset trading platform and other related business operating companies, will fully make use of the collaboration with Boerse Stuttgart Group, to well-establish the actual demands of the digital asset throughout the world.”
Alexander Höptner, Chairman of the Management Board of Boerse Stuttgart GmbH, stated:
“Asia and Europe are the fastest growing markets for digital assets at the moment. With the SBI Group, we have found an ideal partner to push forward our vision of a highly efficient, global ecosystem along the value chain of digital assets. Besides the exchange of knowledge and technology, possible fields of collaboration include the cross issuance and listing of digital assets, trading and brokerage as well as the creation of the first global custody bridge.”
