Plus   Neg

Boerse Stuttgart To Launch Crypto-exchange With Support From SolarisBank

solarisbank crypto 121318 lt

German stock exchange Boerse Stuttgart Group is partnering Berlin-based fintech company solarisBank to help develop the infrastructure and systems for a new cryptocurrency trading platform. It is set to be launched in the first half of 2019.

The new crypto-exchange will initially open trading in established crypto currencies such as Bitcoin (BTC) or Ethereum (ETH). Multilateral Trading Facility (MTF) regulation is being sought for the crypto trading venue.

The venue will be open to both private and institutional investors and will facilitate order opportunities comparable to securities trading.

Boerse Stuttgart Group or Stuttgart Exchange group is the ninth-largest stock exchange in Europe and the second-largest in Germany. It had announced plans in May for a zero-fee cryptocurrency trading application, and in August for an Initial Coin Offering (ICO) platform.

solarisBank, acting as a technology and banking services partner, will support Boerse Stuttgart Group in creating an end-to-end infrastructure for digital assets. It will also provide the required crypto trading banking services to Boerse Stuttgart Group.

solarisBank, which offers Banking-as-a-Service platform with its banking license, is supporting Boerse Stuttgart Group through its resource called "Blockchain Factory" is setting up new standards in transparency and reliability in crypto currencies and tokens.

"A reliable and performant trading venue is a fundamental contribution to our shared vision of a hybrid financial world with both fiat and crypto currencies," says Roland Folz, CEO of solarisBank.

Set up in March 2016, solarisBank was one of the first finance technology companies with a full banking license. It has so far raised more than EUR 95 million or $112 million from major investors, including BBVA, Visa, Lakestar, ABN AMRO's Digital Impact Fund, Arvato Financial Solutions, SBI Group and Finleap.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT