Börse Stuttgart Collaborates With SolarisBank To Develop Crypto Exchange

Börse Stuttgart is a stock exchange in Germany which is the second largest in the country and the ninth largest in Europe. They have now collaborated financial tech startup SolarisBank a Berlin-based fintech company that offers Banking as a Platform(BaaP) services in order to launch an own crypto exchange.

As per a press release which was published on 12 December, the new exchange has been slated for an early 2019 launch, possibly in the second quarter of next year. Börse Stuttgart will be utilizing SolarisBank’s crypto banking platform, in order to make crypto transactions on the exchange more reliable and transparent.

In a statement which was released the CEO of Börse Stuttgart, Alexander Höptner said,

“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”

The exchange will be supporting Bitcoin and Ethereum trading after it’s launch next year, while the tokens will become available for trading in the secondary market after the ICO platform goes live.
The CEO of SolarisBank, Roland Folz was also reportedly “very pleased” about the collaboration and to be working with Börse Stuttgart. He also noted that a reliable and well-functioning trading venue is a vital contribution to the development of a hybrid financial world involving both fiat and cryptocurrency transactions.
The exchange will be accepting it from private as well as institutional users, and according to reports, orders will be conducted as per fixed rules. The press release also mentions that the exchange is seeking self-regulation as a Multilateral Trading Facility. 

This collaboration comes at a time when European Union countries are aiming at increased crypto regulation. Though leading in infrastructure and talent, Europe has been struggling to compete with up and coming markets in South Eastern Asia. It is only a matter of time that will indicate the success of this venture.