On 2nd August, a statement issued by Boerse Stuttgart Group, Germany’s second largest stock exchange group revealed that they would be venturing into creating an end to end cryptocurrency trading framework called BISON. This framework will facilitate market access and allow simple, protected and chargeless trading of cryptocurrencies.
Earlier this year, a prototype for BISON was presented to Boerse at Invest in Stuttgart [at the German finance and investment trade fair] and the idea was accepted and backed by them. The German version of the app is set to release in fall this year. The company also said that an English version of BISON will be launched later.
Ulli Spankowski [Managing Director at Sowa Labs] stated that BISON is the first crypto application to have a traditional stock exchange backing it.
In addition to BISON, they will soon be developing a platform that will behave as an all in one for multilateral trading, initial coin offerings [ICOs], and safe custody for cryptocurrencies, Boerse Stuttgart explained.
Being the leader in digital revolution of commercial markets and products, Boerse Stuttgart Group boasts of having a comprehensive knowledge base in the fields of governance, technology, and trading models owing to the fact that they are well established in the market.
In regards to the above, Alexander Höptner, CEO at Boerse Stuttgart GmbH said:
“On this basis we can offer central services along the value chain for digital assets, all under one roof. Investors and market participants know that Boerse Stuttgart Group stands for quality, transparency and reliability.
Moreover, he added:
“As a Germany-based provider we want to transpose this standard into the digital world. We will help to promote acceptance of digital assets,”
After the launch of BISON, the company intends to extend its functionality to the primary and secondary markets. The company will primarily support trading for Ethereum [ETH], Bitcoin [BTC], XRP [XRP], Litecoin [LTC] and later move on to accept other cryptocurrencies.
The ICO platform will permit the circulation of cryptocurrencies, to finance corporates or to embody rights and assets says the company. The company claims that the process of performing initial coin offerings [ICOs] will be regulated and clear.
Lastly, Höptner said that the company closely cooperated with all leading boards and representatives, more so with the licensed authorities while designing strategic projects.
The framework of Boerse Stuttgart Group for digital assets is integrated with solutions for safe custody. For a start, the services will be made available for BISON. The services will include varied safety concepts for digital assets. Later, the custody service will be extended along the complete value chain.
The CEO of Binance, CZ tweeted:
“It used to be: everyday 10 new crypto exchanges emerge; Soon: everyday 20 new crypto exchanges emerge, plus a few traditional exchanges converting to/adding crypto. Welcome guys, let’s make the market bigger!”
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