Boerse Stuttgart Digital Exchange (BSDEX) is Germany's first regulated trading venue for digital assets and has now reached a trading volume of EUR 0.5 billion since the beginning of 2021. In February, BSDEX also set new records for daily trading volumes exceeding EUR 15 million.
BSDEX is operated in accordance with Section 2, paragraph 12 of the German Banking Act (Kreditwesengesetz) as a multilateral trading facility by Baden-Wuerttembergische Wertpapierbörse GmbH, which also is the operating company for the public stock exchange in Stuttgart. Currently, around 15,000 users are registered and enabled to trade on BSDEX: They can trade the cryptocurrencies Bitcoin, Ethereum, Litecoin and Ripple (XRP) almost around the clock, seven days a week.
"Our user numbers and the trading volume on BSDEX are developing very positively this year. In addition to very active trading by retail investors, the growing interest of institutional investors is certainly a strong driving force behind the recent cryptocurrencies rally. With its legal framework, scalable technology and reliable trading environment, BSDEX fully meets the requirements of institutional players in the field of digital asset trading," says Maximilian von Wallenberg, CEO of Boerse Stuttgart Digital Exchange GmbH. The company is the technical operator of BSDEX and a joint venture of Boerse Stuttgart GmbH, Axel Springer SE, finanzen.net GmbH and SBI Crypto Investment.
Two institutional participants are already connected to BSDEX: financial services provider EUWAX AG, a subsidiary of Boerse Stuttgart GmbH, and Bankhaus Scheich. As liquidity providers, they provide buying and selling prices in trading. At BSDEX, open order books provide information about existing orders and the current market situation. At BSDEX, there are transaction fees based on the type of order. blocknox GmbH, a subsidiary of Boerse Stuttgart Digital Ventures GmbH, takes care of the custody of cryptocurrencies for investors at BSDEX on an escrow basis and free of charge. Deposits and withdrawals of the tradable cryptocurrencies are also free of charge at BSDEX.
