Stuttgart Exchange Group, the second largest stock exchange based in Germany, has recently partnered up with SolarisBank to develop infrastructure for a zero-fee crypto exchange.
While this hasn’t been the first time Stuttgart Exchange Group has touched upon the idea of a zero-fee crypto exchange trading app, it was on their to do list, and it seem as they’ve finally begun setting up the infrastructure for the project. The exchange will also be collaborating with the German fintech firm and banking platform SolarisBank, to make this dream into reality.
With these two companies working together, a new crypto exchange is currently being developed to launch somtime during the first half of 2019. The exchange will be using the SolarishBank financial platform to be the cornerstone of this project.
In a recent press release by the company, the CEO of SolarisBank, Roland Folz was very excited for this project and the massive potential behind it, stating:
“A reliable and efficient trading platform is an elementary contribution to [their] vision of a hybrid financial world with both fiat and cryptocurrencies.”
Connecting the gap between fiat and crypto seems to be the primary goal behind this project. A secure exchange that will allow protections for up to 100,000 Euros that will be supervised by the German regulatory bodies Bafin and Bundesbank will be available.
The press release further mentions the options to trade both Bitcoin and Ethereum becoming available, alongside a possible ICO platform that will be announced earlier this year and is currently undergoing construction.
While some fans of cryptocurrency might be happy that large banks establishments are jumping onto the crypto train, others will continue to remain skeptical stating it goes against the decentralized nature of cryptocurrency. Even so, it’s still quite the big news to hear a exchange giant like Stuttgart Exchange Group getting involved. We’ll just have to see how well their projects works in the coming future.
What are your thoughts on this recent development?
Let us know your thoughts.