Boerse Stuttgart Launches Germany’s First Regulated Trading Venue for Digital Assetsby Company Announcement September 23, 2019
Trading has started on Boerse Stuttgart Digital Exchange (BSDEX).
It is Germany’s first regulated trading venue for digital assets where investors’ orders are executed directly against each other according to fixed rules. BSDEX combines all the potential of blockchain technology with the reliability of an established financial market player.
BSDEX meets the regulatory requirements in accordance with section 2, paragraph 12 of the German Banking Act (Kreditwesengesetz). As of now, selected users in Germany can connect directly to the trading venue, where they can trade the Bitcoin-Euro pair initially. BSDEX will be opened up gradually to other retail and also institutional investors, who can register for it now.
‘As the operating company, we regulate trading on BSDEX with its own market rules and monitor compliance with these rules. Of course, we also bring in our expertise in the field of exchange trading here,’
says Oliver Hans, Managing Director at Baden-Wuerttembergische Wertpapierboerse GmbH since 2005.
The technical operator of BSDEX is Boerse Stuttgart Digital Exchange GmbH, a joint venture of Boerse Stuttgart GmbH, Axel Springer and finanzen.net.
As an external technology and banking partner, solarisBank AG is responsible for payment processing and the custody of customers’ cash deposits in Euro. They are comprised in the BSDEX account, which is free of charge for users, by the German statutory deposit guarantee. blocknox GmbH, a subsidiary of Boerse Stuttgart Digital Ventures GmbH, takes care of the custody of the acquired cryptocurrencies on an escrow basis.