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US News crypto exchanges: Stuttgart stock exchange's crypto trading platform ties Bankhaus Scheich to

15:30  19 october  2020
15:30  19 october  2020 Source:   handelsblatt.com

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The Stuttgart stock exchange (Boerse Stuttgart ) announced it will launch a crypto trading venue in the first half of 2019 through a partnership with solarisBank. ‘Taking Trading in Cryptocurrencies to the Next Level’. In an announcement today, solarisBank revealed a key partnership that will bring a new

BSDEX has recently also cooperated with Bankhaus Scheich. This should increase both liquidity and transparency in the asset class.

Vor einem Jahr startete die Stuttgarter Börse eine Handelsplattform für Bitcoin und Krypto-Token © Börse Stuttgart A year ago, the Stuttgart Stock Exchange launched a trading platform for Bitcoin and crypto tokens

The Frankfurt bank Scheich has connected to the crypto trading platform of the Stuttgart Stock Exchange, BSDEX for short, as the Handelsblatt learned. The securities specialist is now the first institutional participant who does not belong to the Boerse Stuttgart group anyway, at BSDEX - and should ensure more liquidity in Stuttgart.

Maximilian von Wallenberg, Managing Director of Boerse Stuttgart Digital Exchange GmbH, explains BSDEX's interest in Bankhaus Scheich as follows: “A high level of trading quality is extremely important to us. Every participant who is added helps us to more liquidity and better spreads. ”

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The Stuttgart stock exchange (Boerse Stuttgart ) announced it will launch a crypto trading venue in the first half of 2019 through a partnership with solarisBank. ‘Taking Trading in Cryptocurrencies to the Next Level’. In an announcement today, solarisBank revealed a key partnership that will bring a new

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Sheikh is also very progressive and is currently expanding its crypto area, said von Wallenberg in an interview with Handelsblatt. In addition, there is currently still a lack of transparency and reliability in the market with cryptocurrencies , he complains. This is one of the reasons why the focus at BSDEX is on institutional customers such as Sheikh.

The bank, which was founded in 1985 as a stockbroker and has a Bafin license, will act as a liquidity donor according to BSDEX and thus provide buy and sell prices - initially in trading of Bitcoin for Euro , but then soon for the cryptocurrencies Ethereum, Litecoin and XRP. Up to now, this task at BSDEX was held by the company Euwax, which is also part of the Stuttgart Stock Exchange group.

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Boerse Stuttgart Group, the second-largest stock exchange in Germany will launch its cryptocurrency exchange in the first half of 2019, in partnership with a local transparency and reliability”. Initially, the crypto exchange will only facilitate trading for Bitcoin (BTC) and Ethereum (ETH) on its platform .

As a so-called “Designated Liquidity Provider”, ie as a liquidity donor, Euwax is responsible for providing the trading center with bid and ask prices. By joining forces with Bankhaus Scheich, BSDEX wants to increase liquidity even further and also increase transparency with an external provider: Because most trading venues for crypto values ​​have so far been little regulated, many institutional investors avoid digital currencies as an asset class.

“A logical and consistent step”

While the advantage of the partnership for BSDEX is that the bank Scheich is anchored in the banking world and has a corresponding license, Scheich is pleased to be able to get further into to enter the world of cryptocurrencies.

This is how Björn Weigel, who heads the Digital Assets division at Scheich, explains: “The cooperation with BSDEX is a logical and consequent step in our strategic orientation with regard to digital assets.”

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German Regulated Crypto Trading Platform . The group which owns Germany’s second-largest stock exchange has launched a digital asset trading platform called Boerse Stuttgart Digital Exchange ’ s user interface. Investors can connect directly to the new crypto exchange and trade without a broker.

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We are convinced that we will jointly develop the “emerging asset class of cryptocurrencies “I will also make accessible to regulated banks and financial service providers. It was only in August of this year that Sheikh entered into a cooperation with the crypto custodian Finoa to make it easier for institutional investors to access crypto currencies.

A year ago, the Stuttgart Stock Exchange announced that it wanted to become the market leader in the token economy with BSDEX, i.e. those assets that are digitized and stored decentrally on an blockchain . Nevertheless, for a long time only trading with Bitcoin was possible at BSDEX as the only crypto currency .

Just last Thursday, BSDX announced that it would now also offer trading in Ethereum, Litecoin and XRP. To what extent BSDEX hopes the new cooperation will increase sales or the number of customers, the managing director of Wallenberg left open.

More: Corona helps Bitcoin, Ether and Ripple to generate liquidity .

Impending Lockdown 2.0 sends stock exchanges downhill .
- by Hakan Ersen © Reuters / KAI PFAFFENBACH Outbreak of the coronavirus disease (COVID-19) near Frankfurt Frankfurt (Reuters) - For fear of a renewed recession, investors flee the international markets Stock markets. Dax and EuroStoxХ- $ fell on Wednesday by around four percent each to 11,560.51 and 2953.63 points. On Wall Street, the US standard value index Dow Jones lost three percent.

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