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Germany’s 2nd Largest Stock Exchange to Launch a Crypto Exchange by Q2 2019

Germany’s Boerse Stuttgart Group, in collaboration with solarisBank, is developing the system for a crypto trading platform that is set to launch in the first half of 2019. According to the announcement by Boerse Stuttgurt Group, solarisBank will provide the exchange with the necessary banking services.

Alexander Höptner, CEO of Boerse Stuttgart GmbH, had this to say about the new venture.
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.
Roland Folz, CEO of solarisBank, added the following:
Boerse Stuttgart Group and solarisBank share the ambition to shape the future of the financial industry. A reliable and performant trading venue is a fundamental contribution to our shared vision of a hybrid financial world with both fiat and crypto currencies. We are very pleased that Boerse Stuttgart Group chose our Blockchain Factory around Peter Grosskopf and Michael Offermann as its trusted partner

Possible ICO Platform

The team at Boerse Stuttgart will first be offering the trading of established cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). There is also an ICO platform being developed that will allow for the trading of issued tokens. It is not clear if the tokens will be treated as securities or continue being traded as cryptocurrencies.
Private and institutional investors will be able to trade on the platform that will also have open order books to provide real-time information about existing orders. This will in turn give a clearer view of current market situations at all times. The new trading venture is seeking to be regulated as a Multilateral Trading Facility (MTF).

About Borse Stuttgart and solarisBank

Borse Stuttgart is the second largest stock exchange in Germany. The firm offers the trading of traditional investment assets such as equities, securitised derivatives, bonds, investment fund units and profit participation certificates. Boerse Stuttgart is ranked tenth among European exchanges with a trading volume of € 81 billion across all asset classes in 2017.

SolarisBank is the first Banking-as-a-service platform. It has a full banking license and allows companies to offer their own financial products through them. Founded in 2016, the bank provides a highly developed ecosystem for fintechs, companies, banks and corporations.
What are your thoughts of a new crypto exchange by a major leading stock exchange in Europe? Please let us know in the comment section below. 

The post Germany’s 2nd Largest Stock Exchange to Launch a Crypto Exchange by Q2 2019 appeared first on Ethereum World News.

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With Stock Market Stagnation, A Crypto Breakout is Imminent, says Investment Expert

With the concern in the crypto-verse regarding the ongoing crypto market turmoil caused by the Coinrail hack and 4 crypto exchanges being investigated by the CFTC, Ethereum World News managed to get the insight of a seasoned investment, Brenda Whitman, who deals with IRA (Individual Retirement Accounts) centered on precious metals and cryptocurrencies.

Ms. Whitman is a Registered Financial Consultant and the Interim CEO at Coin IRA as well as its parent company of Goldco. CoinIRA, has tailor made Bitcoin IRAs that can be bought using traditional IRA or 401k pension accounts. Ms. Whitman has over 13 years experience with cryptocurrency and precious metal IRAs. She was very optimistic about the cryptocurrency industry and was quick to reference the current turmoil as ‘growing pains’.

She had this to say with regards to the above and the CFTC investigations causing a bit of uneasiness:

The cryptocurrency industry is still in the throes of a massive growth spurt. That means that there will be some growing pains, among them the price volatility that concerns a lot of investors. That has also manifested itself in CFTC’s investigation into possible price manipulation on or by exchanges. It’s the fear of cryptocurrency trading being a rigged game, more than fears of hacking, that has led to recent selloffs and price drops.

She also expressed concerns that the lack of direction by the SEC was causing further uncertainty:

The major unknown going forward…is the threat of regulatory action. Government agencies have accepted that cryptocurrencies are here to stay, but that doesn’t mean that some of them won’t be subject to further regulation.

With respect to the current discussion of both Ethereum and Ripple being classified as securities, Ms. Whitman mentioned that:

If SEC rules those to be securities then it could push future cryptocurrency development further along the model of Bitcoin rather than that of Ethereum.

This is due to the fact that the Ethereum project was itself a crowdfunded endeavor. The platform in turn provides an avenue for ICOs which are also crowdfunded projects. This then might classify Ethereum and subsequent ICOs, as securities worthy of regulation: a process that might cause a legal ripple effect on most crypto projects that started out as ERC20 tokens.

She however mentioned the reluctance of regulatory bodies to act on such and the effects of the delay on the crypto-markets:

But given how slowly regulators tend to move, we foresee underlying market forces remaining the major factor in driving cryptocurrency prices higher in the immediate future.

When asked about the general direction of the crypto-markets and the discussion of Institutional investors deciding to invest in the crypto markets, she said that:

With stock market stagnation, Federal Reserve monetary tightening, and higher interest rates, the stage is being set for a cryptocurrency breakout as more and more investors will move out of stocks and bonds and look to alternative assets to protect their investment wealth.

In a nutshell, the crypto-verse is experiencing some growing pains such as hackings and investigations by regulatory authorizes. However, as the regular stock markets continue to stagnate, traditional investors are bound to switch to the crypto markets in search of more profitable investment options.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

[Photo source, finance.yahoo.com]

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ASX Exchange Targets 2020 for DLT Settlement System Launch

The Australian Securities Exchange (ASX) is moving closer to replacing its CHESS clearing and settlement system with a distributed ledger-based alternative.

Details about the system’s progression toward production launch were included in an 87-page consultation paper published Friday, which included a timeline for when the switch will be made as well as descriptions of the types of functions it will and won’t support.

ASX is targeting a rollout date sometime in the quarter of 2020 or the first quarter of 2021. But before then, ASX – by way of the consultation paper – is seeking early feedback on its plans as they exist today.

“Depending on the extent of consultation feedback received, ASX expects to provide a final functional scope and implementation roadmap in late July 2018,” the firm explained in the opening of the report.

ASX has been exploring the use of distributed ledger technology (DLT) since 2015. It announced in December that it would become the first major stock exchange in the world to use DLT for post-trade settlement, using technology developed in partnership with Digital Asset, a blockchain startup led by former JPMorgan Chase executive Blythe Masters. ASX also owns a stake in Digital Asset.

ASX’s embrace of DLT is a notable one, coming at the end of a years-long research period. Speaking at the Synchronize conference in New York City earlier this month, CLS Group CEO David Puth said ASX’s move is “going to establish standards by itself” by providing an example for enterprise blockchain implementations across the sector.

ASX deputy CEO Peter Hiom, who was on stage with Puth, suggested that the decision to launch a DLT-based system would help demystify the technology for others in the industry:

“You’re not entering the fourth dimension,” he remarked.

You can read the ASX’s full consultation paper below:

Chess Replacement New Scope and Implementation Plan by CoinDesk on Scribd

Image Credit: Adwo / Shutterstock.com

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.