Germany's SolarisBank and the Boerse Stuttgart Group have teamed up to create an end-to-end infrastructure for digital assets. Together they are going to develop a crypto trading system and venue, which is set to launch in the first half of 2019. In addition, solarisBank will provide the required crypto trading banking services to Boerse Stuttgart Group.
“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 cryptocurrencies and tokens to the next level and in setting new standards in transparency and reliability” says Alexander Höptner, CEO of Boerse Stuttgart GmbH.
“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”, says Roland Folz, CEO of solarisBank.
To begin with, established cryptocurrencies such as Bitcoin or Ethereum will be available for trading on Boerse Stuttgart Group’s trading venue. Once the ICO platform of Boerse Stuttgart Group, which is currently being developed, has gone live, tokens issued there will also be available for trading in the secondary market.
The crypto trading venue is open to both private and institutional investors and facilitates order opportunities comparable to securities trading. Open order books provide information about existing orders and the current market situation at all times. Investors’ orders are executed according to fixed rules. Regulation as a multilateral trading facility (MTF) is being sought for the crypto trading venue.
In other news, solarisbank is also partnering with Bitbond to execute Germany’s first Security Token Offering.
Boerse Stuttgart is Germany’s leading floor-based exchange and the first choice of retail investors. Investors can trade equities, securitised derivatives, debt instruments (bonds), exchange-traded fund units (ETFs), investment fund units and participation certificates. Boerse Stuttgart leads the German market for exchange-based trading in corporate bonds and is number one in Europe in the securitised derivatives segment. In 2017, Boerse Stuttgart recorded a total trading volume of around EUR 81 billion across all asset classes, making it Europe’s tenth largest exchange.
solarisBank is the first Banking-as-a-Service platform with a full banking license that enables companies to offer their own financial products. Through APIs, partners gain access to solarisBank’s modular services including payments and e-money, lending, digital banking as well as services provided by integrated third party providers. Through this, solarisBank creates a highly developed technological banking ecosystem for fintechs and established digital companies, as well as banks and corporates. The Berlin-based company was founded back in 2016 and is led by CEO Dr. Roland Folz, board members Jörg Diewald, Marko Wenthin and Andreas Bittner, as well as CFO Alexander Engel and CPO Dr. Jörg Howein. To date, solarisBank has raised more than EUR 95 million from renowned investors, including BBVA, Visa, Lakestar, ABN AMRO’s Digital Impact Fund, Arvato Financial Solutions, SBI Group, FinLeap and yabeo.www.solarisbank.com