German stock exchanges come together for cryptocurrency exchange

Börse Stuttgart is one of the largest stock exchange companies. Recently it has been showing its interest in the now thriving crypto space in Germany. Owing to this dream, it has decided to collaborate with Axel Springer and finanzen.net to construct its very own digital currency. The announcement was made on the 17th of March.

Börse Stuttgart was working on this project since December of last year, and the crypto community did have a hunch about the new upcoming project that was going to be Börse Stuttgart’s first attempt to try its luck in the crypto space. That project has finally been made official now by Börse Stuttgart.

Börse Stuttgart’s main priority is to create a platform where digital transactions can occur securely. The two other parties involved Axel Springer, and finanzen.net also have the same aspirations. The project is said to be based in Stuttgart. The main office will be in Berlin.

With the involvement of three parties, many people were interested in the business structure of the project. The ownership is divided in such a manner that Börse Stuttgart will have seventy percent stakes whereas the other two collaborators will have thirty percent stakes.

The collaboration’s main purpose is so that all the parties involved can offer something unique to the project. Börse Stuttgart will be providing a transparent trading mechanism. Similarly, finanzen.net will be providing essential information regarding consumer and product relationship. While on the other hand, Axel Springer will be providing its valuable expertise and experience that is gained by working in the field and creating successful projects over the years.

The platform is expected to make an appearance by summer. This prediction is made on the condition that all the authorities confirm the project to be launched legally.