Boerse Stuttgart, Germany's second largest stock exchange is currently developing an Initial Coin Offering (ICO) platform, according to a recent announcement.
Boerse Stuttgart launches into the ICO industry
The German Stock Exchange will deploy its network as part of an "end-to-end infrastructure" for "digital assets" . It should allow the ICO representative to sell tokens with standardized and transparent processes.
It will also be a "place of multilateral trading for cryptocurrencies and a conversion solution safely," said the statement.
Boerse Stuttgart made its announcement a few months after it unveiled Bison , a crypto-currency trading application slated for September.
"The new ICO platform will be available sometime after the opening of the trading application , " said the German stock exchange. However, cryptocurrency holding services will be made available to users prior to the launch of Bison.
A "digital transformation" in secondary markets
The new features of the company have been specifically developed for secondary markets.
"Digital tokens issued through our ICO platform may be traded on the secondary market. This is an important success factor for ICOs. At the same time, we are meeting the demand of retail and institutional investors for a regulated and reliable trading and cryptocurrency environment, "said Alexander Hoptner, CEO of the stock market.Also, Boerse Stuttgart plans to "cooperate closely" with financial regulators. The new range of services offered by the company will facilitate the "digital transformation of financial markets and financial products".
Hoptner added:
"We can offer core services along the value chain for digital assets, all under one roof. "This is not the first time a stock trader has followed suit in the cryptocurrency industry. The TMX Canadian Exchangeannounced that its subsidiary was working on the launch of a brokerage company related to virtual currencies . It plans to focus on the two most important cryptocurrencies, Bitcoin and Ethereum."We will help promote the approval of digital currencies."
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