SolarisBank teams up with German exchange Boerse Stuttgart Group to form crypto exchange

Bitcoin and Ethereum will be available to trade at launch.

Major German stock exchange Boerse Stuttgart Group has partnered with financial tech startup SolarisBank to launch its own crypto exchange.

According to a press release published on 12 December, the new exchange is scheduled to launch in early 2019. By utilising SolarisBank’s crypto banking platform, Boerse Stuttgart aims to make crypto trading more reliable and transparent.

“With its combination of technology and banking expertise, solarisBank is a great partner for us to offer central services along the value chain for digital assets. solarisBank’s Blockchain Factory supports us in taking trading in crypto currencies and tokens to the next level and in setting new standards in transparency and reliability” Alexander Höptner, CEO of Boerse Stuttgart said in a statement.

The exchange will support Bitcoin and Ethereum trading when it launches next year, with the tokens becoming available for trading in the “secondary market” after the ICO platform has gone live.

“A reliable and performant trading venue is a fundamental contribution to our shared vision of a hybrid financial world with both fiat and crypto currencies.

Roland Folz, CEO of SolarisBank also commented that the startup was “very pleased” to be working with Boerse Stuttgart, adding that a reliable trading venue is a fundamental step toward realising the companies’ shared vision of  “a hybrid financial world with both fiat and crypto currencies.”

The trading platform will accept investments from both private and institutional users, and order will reportedly be executed “according to fixed rules.” According to the release, the exchange is seeking self-regulation as a Multilateral Trading Facility.

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