Boerse Stuttgart Digital Exchange Opens

Boerse Stuttgart Digital Exchange Opens

by December 11, 2019
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While trading on Boerse Stuttgart Digital Exchange (BSDEX) was initially launched for selected users in September, the trading venue is now open to all investors based in Germany. On the country’s first regulated trading venue for digital assets, users can trade the Bitcoin-Euro pair, with further digital assets to be made available. To connect directly to BSDEX, users must hold a German bank account and be at least eighteen years old, resident in Germany and a national of a country in the European Economic Area (EEA).

BSDEX meets the regulatory requirements in accordance with section 2, paragraph 12 of the German Banking Act (Kreditwesengesetz) and is operated as a multilateral trading facility by Baden-Wuerttembergische Wertpapierboerse GmbH, which also is the operating company for the public stock exchange in Stuttgart. The technical operator of BSDEX is Boerse Stuttgart Digital Exchange GmbH, a joint venture of Boerse Stuttgart GmbH, Axel Springer and finanzen.net.

As of now, BSDEX users also benefit from free deposits and withdrawals of tradable cryptocurrencies. As required by law, measures have been implemented to prevent money laundering and the financing of terrorism. blocknox GmbH, a subsidiary of Boerse Stuttgart Digital Ventures GmbH, takes care of the custody of the acquired cryptocurrencies on an escrow basis, free of charge for BSDEX users.

Trading at BSDEX is almost 24 hours, seven days a week. Orders are executed directly against each other according to fixed rules. Open order books provide information about existing orders and the current market situation. In addition, financial services provider EUWAX AG, a subsidiary of Boerse Stuttgart GmbH, increases liquidity by providing buying and selling prices. At BSDEX, there are transaction fees based on the type of order.

Featured image credit: Unsplash

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