Germany’s second-largest stock exchange, Boerse Stuttgart, has opened up its cryptocurrency trading platform to all interested traders in the country. This move follows the passing of a bill allowing banks in Germany to sell and hold cryptocurrencies for their clients starting next year.
Also read: Regulatory Roundup — Germany to Let Banks Sell and Store Crypto, Laws Changing in Asia
Regulated Crypto Trading Platform
Boerse Stuttgart announced Friday that its digital asset trading platform is “now open to any interested persons in Germany.” The BSDEX platform was launched in September but only for selected users. The company described:
At Germany’s first regulated trading venue for digital assets, users can currently trade bitcoin against the euro. Additional digital assets are to be added.
To access the BSDEX platform, the user must be at least 18 years of age, a resident of Germany, a European Economic Area (EEA) national, and have a German bank account. The platform offers free cryptocurrency deposits and withdrawals with varying trading fees based on the order type.
“The BSDEX is a multilateral trading system that brings together buyers and sellers of digital assets through an open order book,” Boerse Stuttgart explained, adding that customer orders are executed directly against each other. The company elaborated:
At the moment our offer is limited to Germany. However, our goal is to make it available in other countries in the future.
The digital asset platform complies with the regulatory requirements of the German Banking Act. The Baden-Württembergische Wertpapierbörse, which also acts as a holding company of the public stock exchange, regulates and monitors the compliance of the platform. The technical operator of the BSDEX is the Boerse Stuttgart Digital Exchange, a joint venture between the Boerse
