Boerse Stuttgart’s cryptocurrency exchange BSDEX opens to all German investors
Mon, 09 Dec 2019, 10:33 am UTC
German stock exchange Boerse Stuttgart has announced that its digital assets exchange is now open all German investors.
Boerse Stuttgart Digital Exchange (BSDEX), which was launched in September this year, is regulated under the German Banking Act. Its technical operator is Boerse Stuttgart Digital Exchange GmbH, a joint venture between Boerse Stuttgart GmbH, Axel Springer and finanzen.net.
In an announcement dated Dec. 06, Boerse Stuttgart said (via online translation):
“[T]he Digital Exchange of the Stuttgart Stock Exchange (BSDEX) is now open to all interested parties in Germany,” adding that “users can currently trade Bitcoin against the euro” with plans to add support for additional digital assets.
There are a number of prerequisites in order to connect directly to the BSDEX, including being a German resident, minimum age of 18, a German bank account and a nationality from the European Economic Area.
“For BSDEX users, the free deposit and withdrawal of tradable cryptocurrencies is now also possible. For this purpose measures for the prevention of money laundering and terrorist financing were implemented in accordance with the legal requirements,” the release added.
As per the details, blocknox GmbH, a subsidiary of Boerse Stuttgart Digital Ventures GmbH, is acting as the custodian for cryptocurrencies of BSDEX users.
“Trading on the BSDEX runs almost 24 hours a day, seven days a week. Orders are executed directly and according to fixed rules against each other. Open order books provide information about existing orders and the current market situation,” it added. “Trading on the BSDEX involves transaction fees, which vary depending on the order type.”
Meanwhile, Swiss fintech startup Amun AG has reportedly listed seven of its cryptocurrency exchange-traded products (ETPs) on Boerse Stuttgart.
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