25.06.2021

Boerse Stuttgart Launches Regulated Digital Exchange

In a Sept. 23 press release, the Boerse Stuttgart Group – Germany’s second-largest stock exchange – announced that trading has started on its newly launched digital asset exchange platform, Boerse Stuttgart Digital Exchange (BSDEX).

As of today, the newly launched Boerse Stuttgart Digital Exchange (BSDEX) is available to select users in Germany.

Fully regulated under the German Banking Act

The exchange, which is regulated under the German Banking Act, will initially allow users to trade the euro/Bitcoin pair.

BSDEX is currently available to a select group of German investors only, but will gradually open up its trading venue to other retail and institutional investors, eventually followed by the entire European Union, the exchange noted. Dr. Dirk Sturz, the CEO at BSDEX added:

“The market in cryptocurrencies is worth billions, and more digital assets will emerge on the basis of blockchain. Our goal is to build up the leading European trading venue for those assets.”

Boerse Stuttgart has also partnered with an external banking partner, SolarisBank AG, which will process euro payments and provide fiat custodial services.

Boerse Stuttgart launched crypto trading app

In January, Cointelegraph reported that Boerse Stuttgart Group officially launched its crypto-trading app Bison. The developers’ reported aim in making the app was to ease access to cryptocurrencies for investors that are accustomed to using traditional markets.

BlockFi Clients Can Now Start Earning Interest On Any Amount of Crypto

Clients of BlockFi, a cryptocurrency lending company, will now be able to start earning interest on any amount of Bitcoin, Ether (ETH), and Gemini Dollar (GUSD).

No minimum deposit to earn interest

On Sept. 13, the New York-based cryptocurrency lending company, BlockFi, announced that, starting today, its BlockFi Interest Account (BIA) clients will not be required to meet a minimum deposit amount in order for them to earn interest on their Bitcoin, Ether, or GUSD balances.

Zac Prince, founder and CEO at BlockFi stated that he is excited to see the growth in platform activity from crypto investors leveraging their wealth management products, while the BlockFi team added that the decision to waive the minimum deposit will make its BIA available to a wider crypto audience.

This year the American cryptocurrency lender expanded its services into India and now plans to enter Latin America. Co-founder and VP of operations, Flori Marquez said:

“Earlier this year, we expanded into new markets such as India. By making BIA open to all, we plan to target clients in Latin America, where banking services and credit reporting are limited. U.S.-grade financial products have typically only been available to high net worth individuals in countries like Argentina and Costa Rica. BlockFi’s platform leverages blockchain rails to make wealth management products available on a much broader scale.”

BlockFi secures $18.3 million

Cointelegraph recently reported that BlockFi had secured $18.3 million in a funding round led by Valar Ventures, one of three venture funds co-founded by PayPal co-founder Peter Thiel. BlockFi was the first company to receive institutional funding for crypto-based loans in United States dollars, in the form of a $50 million lending facility from Galaxy Digital.

In April, Cointelegraph wrote that BlockFi had over $53 million in client crypto assets under management.

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