Germany’s second largest stock exchange, the Stuttgart Exchange Group, are working with SolarisBank to build a zero-fee cryptocurrency exchange.
The Stuttgart Exchange Group announced in April that they were planning to launch a cryptocurrency trading platform. Now their plans seem to be coming to fruition with the platform expected to launch in the first half of 2019.
According to a press release reported on Wednesday, German Fintech firm SolarisBank will be the cornerstone of the project. The CEO of SolarisBank, Roland Folz, spoke positively about the new project, stating: “A reliable and efficient trading platform is an elementary contribution to [their] vision of a hybrid financial world with both fiat and cryptocurrencies.”
— IT Finanzmagazin (@ITFinanzmagazin) December 12, 2018
The exchange will offer up to €100,000 of insurance and will be supervised by German regulatory bodies BaFin and Bundesbank.
Two of the three largest cryptocurrencies, Bitcoin and Ethereum, will both be listed on the exchange alongside an ICO project that was announced earlier this year.
The move by major financial institutions like the Stuttgart Exchange Group and Nasdaq in the US, who also confirmed they would list Bitcoin futures, is a positive step for the cryptocurrency space, which has usually been viewed in a negative light by the finance industry.