First regulated trading venue for digital assets in Germany launched
The Boerse Stuttgart Digital Exchange (BSDEX), which was built with support from solarisBank, the technology company with a banking license, harnesses the power of blockchain technology to facilitate investments for experienced investors
Stuttgart / Berlin, 23.09.2019 - Trading has started on Boerse Stuttgart Digital Exchange (BSDEX). The BSDEX is the first regulated trading venue for digital assets in Germany where investors’ orders are executed directly against each other according to fixed rules. BSDEX meets the regulatory requirements in accordance with section 2, paragraph 12 of the German Banking Act (Kreditwesengesetz). As a technology partner, solarisBank supported the Stuttgart Stock Exchange Group in the development of the trading venue and also provides important banking services for the operation of BSDEX. Thus, the Berlin Banking-as-a-Service platform is responsible for payment processing and the safekeeping of customer funds in euros in the BSDEX credit account. The BSDEX account is is free of charge for users and is comprised by the German statutory deposit guarantee.
"We are very excited about the official launch of BSDEX, a large and immensely innovative project that will make a significant contribution to the digital transformation of the financial sector in Germany. The fact that the Stuttgart Stock Exchange, a pioneer and innovation leader amongst European trading centers, trusts us as a technology and banking partner makes us proud and shows our unique position in the market."
As of now, selected users in Germany can connect directly to the trading venue, where they can trade the Bitcoin-Euro pair initially. BSDEX will be opened up gradually to other retail and also institutional investors, who can register for it now.
BSDEX is operated as a multilateral trading facility in accordance with section 2, paragraph 12 of the German Banking Act by Baden-Wuerttembergische Wertpapierboerse GmbH, which also is the operating company for the public stock exchange in Stuttgart. The technical operator of BSDEX is Boerse Stuttgart Digital Exchange GmbH, a joint venture of Boerse Stuttgart GmbH, Axel Springer and finanzen.net.
More information on the Digital Exchange of the Stuttgart Stock Exchange at www.bsdex.de
More information on solarisBank can be found at www.solarisbank.com
VP Communications & Marketing
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Solarisbank AG is the first Banking-as-a-Service platform with a full banking license that enables companies to offer their own financial products. Through APIs, partners gain access to Solarisbank's modular services including digital bank accounts and payment cards, identification and lending services, as well as services provided by integrated third party providers. Through this, Solarisbank creates a highly developed technological banking ecosystem for fintechs and established digital companies, as well as banks and corporates.
After having established itself as the banking partner of choice for blockchain and crypto businesses, Solarisbank founded Solaris Digital Assets GmbH in 2019 to further drive the adoption of digital assets. The 100% subsidiary of Solarisbank offers a custodial solution for digital assets to complement its existing banking services.
The Berlin-based company was founded back in 2016 and is led by CEO Dr. Roland Folz, board members Jörg Diewald, Dr. Jörg Howein and Thom Rasser, as well as COO Dr. Daniel Seifert and CTO Hima Mandali. To date, Solarisbank has raised more than EUR 160 million from renowned investors, including ABN AMRO’s Digital Impact Fund, BBVA, finleap, HV Holtzbrinck Ventures, Lakestar, Samsung Catalyst Fund, SBI Group, Storm Ventures, Visa, Vulcan Capital, and yabeo.