Second Largest German Stock Exchange to Create ICO Platform
Boerse Stuttgart Group, the second largest stock exchange in Germany, has released an update on their plans to build out their own infrastructure for digital assets. It was announced earlier this year that Sowa Labs, in partnership with BSG, is developing a mobile trading app called BISON. According to the press release, BISON will not charge any trading fees, along with other innovative features.
BISON also does not charge any trading fees: users can trade cryptocurrencies for free in the app. Another innovative feature of the app is the ‘Cryptoradar’, which filters the flow of news in social media on the basis of artificial intelligence: It gives an impression of the mood in real time and informs about which cryptocurrencies are being discussed.
The trading app will be the first that is backed by a traditional stock exchange. The release is planned for fall, first in German, and then later in English.
Last week, Boerse Stuttgart announced additional plans beyond BISON, namely, the intention to create a platform for ICOs.
After the launch of BISON in the autumn, Boerse Stuttgart Group will be extending its activities to the primary and secondary markets. An ICO platform will allow the issuance of digital tokens, for corporate financing or to represent rights and assets, for instance. The platform will also make it possible to carry out ICOs with standardized and transparent processes.
In addition to the ICO platform, there will be a “multilateral and regulated trading venue for cryptocurrencies.” Further details on what this means have not yet been provided.
Boerse Stuttgart’s comprehensive trading platform is meant to allow for easier access to cryptocurrencies for mainstream investors. Ideally, the platform and app will dramatically increase the number of people who choose to enter the cryptocurrency market.
In the coming months, more information will be available; first for BISON and it’s release this fall, followed later by the other cryptocurrency ventures.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.