Boerse Stuttgart Group, Axel Springer and finanzen.net have collaborated to establish a joint venture (JV) company to manage a trading venue for digital assets on the blockchain.
Boerse Stuttgart will hold the majority interest in the JV firm, while Axel Springer and finanzen.net will together hold 30% in the JV. The new JV will be based in Stuttgart and manages office in Berlin.
The trading venue is expected to be first launched in Germany in summer this year to serve both retail and institutional investors.
Boerse Stuttgart management board chairman Alexander Höptner said: “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.”
The partnership intends to use the blockchain technology to provide investors with direct and easy access to digital assets such as crypto currencies.
finanzen.net, which is a major German online financial portal, provides independent information on financial products to the customers for taking investment decisions. Boerse Stuttgart is said to provide a transparent and dependable environment to execute investment decisions.
Boerse Stuttgart is Germany’s floor-based exchange that enables investors to trade equities, securitised derivatives, debt instruments (bonds), exchange-traded fund units (ETFs) and investment fund units.
The partners will combine their offerings in the area of digital assets in the future, enabling to provide investors with all services ranging from information to trading on a single platform.
Boerse Stuttgart and finanzen.net are also expanding their long-standing cooperation, as part of the digital transformation of financial markets and products.
Europe’s digital publisher Axel Springer will support both entities in the development of sustainable digital business models.
Axel Springer executive board member Dr Andreas Wiele said: “The use of blockchain technology as part of our cooperation with Boerse Stuttgart Group is in line with our strategy of offering Axel Springer customers the entire range of services – from independently researched information right through to the investment process itself.”