German got its very first decentralized exchange, which is compliant with the banking laws of the country. Now digital currencies can be traded legally in Germany.
Boerse Stuttgart launched trading on a decentralized exchange (DEX) and has named it Boerse Stuttgart Digital Exchange (BSDEX) in line with Article 12 (2) of the German Banking Act. Boerse Stuttgart Group is the second-largest stock exchange operator in Germany. It has been bringing a digital revolution in the financial market.
Presently, only a few selected traders can trade BTC/EURO pairs, but will soon be open to general and institutional investors. BSDEX is open for trading 24×7, that too without the intervention of a broker. Currently, limited orders can be done without any fee, but if the market opens up for the general people, fees will be charged. Now only the status of the market and order is available, but later on, various other services will be added.
Dr. Dirk Sturz, CEO of Boerse Stuttgart Digital Exchange GmbH and technical operator of BSDEX, said that,
“The cryptocurrency market is worth billions of dollars and we expect to see blockchain-based digital assets going forward. Our goal is to create a market that represents Europe where these digital assets are traded.”
Boerse Stuttgart has partnered with Solaris Bank AG to process Euro transactions and facilitate custodial services.
In January this year, the Boerse Stuttgart Group launched their crypto-trading app Bison. This app makes cryptocurrencies handy and convenient for investors who are comfortable with the traditional market.