Boerse Stuttgart and SBI partnering for digital asset business
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Boerse Stuttgart and SBI partnering for digital asset business

December 20, 2019      Debarati Ghosh

Boerse Stuttgart Group and SBI Holdings are partnering for the digital asset business. Boerse Stuttgart Group is the second-largest stock exchange in Germany and SBI Group is a Japenese financial giant. And they will establish the partnership in Europe, Asia (including Japan) with the aim of a global end-to-end ecosystem for digital assets utilizing blockchain technology.

Boerse Stuttgart Subsidiaries

SBI Holdings will invest in the exchange’s digital asset trading platform Boerse Stuttgart Digital Exchange. Reportedly, it will also invest in Boerse Stuttgart Digital Ventures GmbH which is another subsidiary of the company.

Boerse Stuttgart Digital Exchange is a joint venture among Boerse Stuttgart GmbH, Axel Springer SE and GmbH. And it is the technical operator of Germany’s first regulated digital assets trading platform BSDEX.

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On the other hand, Boerse Stuttgart Digital Ventures takes care of the digitization part of the group. Also, it itself has two subsidiaries Sowa Labs GmbH and blocknox GmbH.

Top Management Statement

Alexander Höptner, Chairman, Boerse Stuttgart stated, “Asia and Europe are the fastest-growing markets for digital assets at the moment. With the SBI Group, we have found an ideal partner to push forward our vision of a highly efficient, global ecosystem along the value chain of digital assets. Besides the exchange of knowledge and technology, possible fields of collaboration include the cross issuance and listing of digital assets, trading and brokerage as well as the creation of the first global custody bridge.”

Yoshitaka Kitao, President and Representative Director, SBI Holdings stated, “Given that the digital asset has the characteristic of decentralized value, the highest priority upon establishing our digital asset ecosystem is to find trustable financial partners globally. The SBI Group, including its crypto-asset trading platform and other related business operating companies, will fully make use of the collaboration with Boerse Stuttgart Group, to well-establish the actual demands of the digital asset throughout the world.”

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Previous initiative in Digital Asset Space

The SBI Group is working to establish the digital asset ecosystem since 2016. Well, recently SBI Securities along with 5 other Japanese brokerage firms established the Japan Security Token Offering (STO) Association. It also launched a payments app in association with Ripple. And other initiatives taken under the group’s digital asset ecosystem are SBI VC Trade, SBI Crypto and SBI Mining chip. SBI VC trade is one of the first crypto-asset exchanges registered in Japan. Where SBI Crypto specializes in crypto mining, SBI Mining chip manufactures mining chips and develops the mining system.

#Crypto News #Cryptocurrency #Cryptocurrency News #Exchange Boerse Stuttgart #Partnership #SBI Holdings
Debarati Ghosh
Debarati Ghosh

Debarati is a finance MBA who is a keen observer of the current crypto currency market. She likes to read and write about the game changer and industry transforming news of the market.