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
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solarisBank, the tech company with a banking license, enables companies to offer their own financial products with its banking-as-a-service offering. Through APIs, partners gain access to solarisBank’s platform services including payments and e-money, lending, digital banking as well as services provided by integrated third party providers. Through this, solarisBank creates a highly developed technological banking ecosystem for fintechs, established digital companies, as well as banks and corporates.
The Berlin-based company was founded back in 2016 and is led by CEO Dr. Roland Folz, board members Jörg Diewald and Andreas Bittner, as well as CFO Alexander Engel and CPO Dr. Jörg Howein. To date, solarisBank has raised more than EUR 95 million from renowned investors, including BBVA, Visa, Lakestar, ABN AMRO’s Digital Impact Fund, Arvato Financial Solutions, SBI Group, Finleap and yabeo.