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German Stock Exchange Boerse Stuttgart’s Digital Business Gets New Boost

Started by forex4you, Jan 29, 2023, 06:52 pm

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German Stock Exchange Boerse Stuttgart's Digital Business Gets New Boost

<p>Boerse Stuttgart, Germany's second largest <a href="" class="terms__main-term" id="76d5dc1c-865d-49be-9e84-126258dff377" target="_blank">stock exchange</a>, has
strengthened its digital business with additional investment from Tokyo- based
financial services firm, SBI Group, and digital publisher, Axel Springer. Boerse announced on Friday that both firms are now completely committed to its digital
business.</p><p>Under its digital business, the German stock exchange offers trading
and  crypto custody solutions to institutional clients. It also offers
retail crypto trading via the <a href="" target="_blank" rel="follow">BISON</a> app which was <a href="" target="_blank" rel="follow">launched in 2019</a>. </p><p>In a Friday statement, Boerse Stuttgart, which is the sixth largest exchange group in Europe, disclosed that it intends to organize all its digital activities under a new arm to be called Boerse Stuttgart Digital which will be launched "in the future."</p><p>Speaking in the statement, Dr. Matthias Voelkel, CEO of Boerse Stuttgart
Group, expressed excitement at the new investment, adding that both Axel Springer and <a href="" target="_blank" rel="follow">SBI Group</a> share the company's "growth
ambition." </p><p>"The fact that Axel Springer and SBI Group are expanding their
strategic  partnership with Boerse Stuttgart Group underlines their trust
in the digital  business of our Group as a regulated player," Dr.
Christian Ricken, Chairman of the Executive Committee of Boerse Stuttgart
Group, further added.</p><p>Watch the recent FMLS22 session on retail and institutional trading.</p><p>Boerse Stuttgart Expands BISON</p><p>Meanwhile, Axel Springer and SBI Group's expanded investment in Boerse Stuttgart comes almost two months after the stock exchange increased BISON's
digital asset portfolio to 17 <a href="" class="terms__secondary-term" id="b091101e-6e02-4b36-aa0e-7c972dfdd6ed" target="_blank">cryptocurrencies</a> with the addition of seven new
coins. The new cryptocurrencies added were ALGO (Algorand), SAND (Sandbox),
SHIB (Shiba Inu), AAVE (Aave), MANA (Decentraland), MATIC (Polygon) and DOGE
(Dogecoin). </p><p>In a statement, Dr. Ulli Spankowski, who doubles as the Chief Digital
Officer of Boerse Stuttgart Group and the CEO of BISON, noted that the company
remains committed to offering its customers "a safe, reliable environment to
trade and store their cryptocurrencies."</p><p>Meanwhile, in May last year, FlatexDegiro, a Germany-based online
securities broker, diversified into crypto trading, providing initial access to
digital asset trading to its customers via Boerse Stuttgart's BISON app. The
broker also onboarded the services of Blocknox, another Boerse Stuttgart's
subsidiary, to custody its clients' digital assets.</p>

This article was written by Solomon Oladipupo at

Source: German Stock Exchange Boerse Stuttgart's Digital Business Gets New Boost
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