Boerse Stuttgart, Europe's 10th Largest Stock Exchange, Preps for Crypto

Boerse Stuttgart, Europe’s 10th Largest Stock Exchange, Preps for Crypto

This week, Boerse Stuttgart Group — Europe’s 10th largest stock exchange and Germany’s second-largest behind the Frankfurt Stock Exchange — announced it had partnered with Berlin-based solarisBank. The latter will provide banking services and build infrastructure for Boerse Stuttgart’s coming cryptocurrency trading platform. 

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Bitcoin, Ether Trading Coming to Boerse Stuttgart’s In-Progress Crypto Trading Platform

On December 12th, Boerse Stuttgart announced it would be collaborating with solarisBank in a deal to actualize the stock exchange’s new cryptocurrency trading venue by the end of Q2 2019.

solarisBank, a Banking-as-a-service provider, will use its modular offerings to build out the crypto platform from the ground up. solarisBank will also use its banking license to service Boerse Stuttgart’s crypto banking needs.

For its part, Boerse Stuttgart is Germany’s most popular stock exchange among domestic retail investors, the nation’s vanguard floor-based bourse, and Europe’s top platform for securitized derivatives. It executed approximately $92 billion USD worth of trades last year, making it the continent’s 10th-largest exchange in that span.

Could Stuttgart become a crypto hub if the new cryptocurrency exchange venue becomes popular?

The Stuttgart-based exchange had declared its intentions to launch a cryptocurrency trading arm this past fall. Just before that, the bourse had said it was interested in launching a platform for hosting Initial Coin Offerings (ICOs).

On the news, Boerse Stuttgart CEO Alexander Höptner argued solarisBank’s resident blockchain initiative would help his company’s new trading venue become a trendsetter.

“solarisBank’s Blockchain Factory supports us in taking trading in crypto currencies and tokens to the next level and in setting new standards in transparency and reliability,” said Höptner.

More Mainstream Crypto Melds to Come in Europe?

The standing question for now is whether other large European stock exchange’s will look to Boerse Stuttgart’s example in exploring their own cryptocurrency trading venues.

That remains to be seen, but Boerse Stuttgart’s crypto pivot does suggest that more mainstream financial players are starting to see digital assets as tradeable instruments worth consideration.

In other European stock exchange news, a crypto-centric exchange-traded product, the Amun Crypto Basket ETP, was granted a listing on the Swiss Exchange (SIX) in November 2018.

The ETP, which rebalances automatically every month, tracked the prices of bitcoinether,  XRP, and litecoin for its first basket cycle. The product saw upwards of $400,000 USD in trade volume in the first week after its listing.

Beyond trading affairs, this month transportation officials from seven European Union member states declared plans on collaborating on making Southern Europe a hub for blockchain embraces and blockchain enterprises.

“We strongly believe that the use of such a technology may lead to more cooperation in the Mediterranean basin,” the ministers said.

And pertaining to hub status, smartphone manufacturing powerhouse Samsung just chose to file three cryptocurrency-related patents with the European Union Intellectual Property Office, when they could have filed them elsewhere.

For now, a key thread to watch will be whether other enterprises follow that same route in the months and years ahead.

What’s your take? Will other stock exchanges in Europe follow Boerse Stuttgart’s lead in opening up cryptocurrency trading arms? Let us know in the comments section below. 


Images via Pixabay

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