Börse Stuttgart Digital Exchange (BSDEX), the German-based first regulated trading venue for crypto assets, has launched a trading app that supports four cryptocurrencies.
It has been reported that as a digital assets trading venue that fulfills the regulatory requirements of the German Banking Act, the venue has been a pioneer in the mainstreaming of crypto in Germany. Previously, investors had access to an earlier crypto trading app called Bison, which was first launched back in 2019.
The report said that over 20,000 users are currently using BSDEX, which is operated by Baden-Wuerttembergische Wertpapierborse GmbH, the same operator that runs Stuttgart’s public stock exchange. The fully regulated exchange has three institutional participants serving as its liquidity providers: Börse Stuttgart GmbH subsidiary EUWAX AG, Bankhaus Scheich, and Crypto Broker AG.
In terms of custody arrangements, Börse Stuttgart Digital Ventures GmbH subsidiary Blocknox GmbH custodies BSDEX customer assets on an escrow basis. When it comes to trading, the venue charges fees that vary according to different types of orders.
Singapore-based multinational banking corporation, DBS Bank, has launched its first-ever security token offering. DBS hopes the #STO will inspire other mainstream firms to launch digital bonds through its exchange. https://t.co/NFPkPJo5YT (Reporting via @samuel_haig) — Cointelegraph (@Cointelegraph) June 1, 2021
Maximilian von Wallenberg, the CEO of BSDEX’s technical operator, Börse Stuttgart Digital Exchange GmbH, said that the decision to provide a convenient trading option for smartphone users has been taken in response to investors’ needs.
“We see a huge customer demand for a reliable and transparent German trading venue for Bitcoin, Ethereum and Co. This is also reflected by the trading volume on BSDEX, which has now exceeded 1 billion euros since our market entry.”
Thus, the app will enable users to view their crypto holdings, track cryptocurrency charts and access basic and advanced order types, much like the desktop version.