According to a press release from the independent digital publisher, Axel Springer, they have formed a partnership with Germany’s second-largest stock exchange, Börse Stuttgart, in order to launch a blockchain-powered trading platform. The platform will serve both retail and institutional investors.
Along with Axel Springer’s subsidiary, Finanzen.net, the partners will use blockchain technology to provide investors with direct and easy access to digital assets and believe they are setting a benchmark for this new market.
Börse Stuttgart will be the majority shareholder with 70 percent, while Axel Springer and its subsidiary will hold 30 percent. Axel Springer is the largest digital publishing house in Europe, owning titles such as Bild, Die Weld and Fakt and Börse Stuttgart is Germany’s second largest stock exchange.
Both Companies Are Already Informed About The Technology
“The aim of Boerse Stuttgart Group is to focus sharply on retail investors and their needs. We have found ideal partners for this in Axel Springer as Europe’s leading digital publisher, and in the finanzen.net portal,” said Chairman of the Board of Management of Börse Stuttgart, Alexander Höptner. “Together we can offer investors comprehensive and integrated services for digital assets, from in-depth information to trading and custody”.
Dr Andreas Wiele, Member of the Executive Board of Axel Springer, added that using blockchain technology alongside Boerse Stuttgart, is in line with their strategy of “offering Axel Springer customers the entire range of services, from independently researched information right through to the investment process itself”.
Both companies are already familiar with the benefits of the technology. As 21Cryptos reported last month, Axel Springer entered into a partnership with UK based firm, SatoshiPay in order to enable users to pay for content with the digital SatoshiPay wallet. And the Boerse Stuttgart Group launched its crypto-trading app, Bison, in January.
Set to launch in Germany this summer, the joint venture company will be based in Stuttgart, with an office in Berlin.