Germany's No.2 Stock Exchange Is Developing an ICO Platform

Boerse Stuttgart Group is developing a suite of crypto services including an ICO platform.

Aug 2, 2018 at 10:45 p.m. UTC
Updated Sep 13, 2021 at 8:14 a.m. UTC

Germany's second-largest stock exchange is developing an ICO platform, it announced on Thursday.

Boerse Stuttgart expects to roll out the platform as part of  larger "end-to-end infrastructure" for "digital assets" it is currently developing, and says the ICO platform will allow token issuers to conduct token sales with "standardized and transparent processes."

It will also offer a "multilateral trading venue for cryptocurrencies as well as solutions for safe custody," it said in a statement.

The bourse's announcement comes just months after it unveiled plans for a crypto trading app.

Dubbed Bison, the app is expected to be released in September. The debut of the ICO platform, trading venue and will follow Bison's launch, Boerse Stuttgart said, while its custody services will be available before Bison is live.

The company also has its sights set on secondary markets and has designed its new services accordingly. CEO Alexander Hoptner explained,

"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. At the same time, we are responding to demand from both retail and institutional investors for a regulated and reliable environment for trading and cryptocurrencies."

He added that the company plans to "closely cooperate" with financial regulators.

According to Hoptner, the new suite of crypto services reflects the company's efforts to facilitate the "digital transformation of financial markets and financial products."

"We can offer central services along the value chain for digital assets, all under one roof," he said.

"We will help to promote the acceptance of digital assets."

Boerse Stuttgart is not the only stock exchange operator to enter crypto services.

Canadian stock exchange TMX announced in March that its subsidiary had inked a deal to establish a cryptocurrency brokerage that plans to initially focus on bitcoin and ether.

Business miniatures image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
First Mover Asia: USDC Hasn’t ‘Flippened’ USDT, but Trader Preferences Are Changing; Cryptos Rise Despite Bearishness

A Glassnode analyst suggests the collapse of the UST token has triggered a change in investors' stablecoin preferences; bitcoin holds above $30,000.

A Glassnode analyst suggests the collapse of the UST token has triggered a change in investors' stablecoin preferences; bitcoin holds above $30,000.

2
Musk Sets New Condition for Twitter, Citi Says Terra’s Fallout Unlikely to Hit Wider Financial System

The most valuable crypto stories for Tuesday, May 17, 2022.

The most valuable crypto stories for Tuesday, May 17, 2022.

3
Market Wrap: Cryptos and Stocks Mixed Amid Bearish Sentiment

BTC is stabilizing around $30K while stock market volatility begins to fade.

BTC is stabilizing around $30K while stock market volatility begins to fade.

4
New Data Shows Underground Bitcoin Mining Thriving in China

The U.S. has also expanded its lead in the global hashrate competition.

The U.S. has also expanded its lead in the global hashrate competition.