Source: Boerse Stuttgart
Boerse Stuttgart Group and Axel Springer SE with its finanzen.net portal will be working together in future.
The partners want to use blockchain technology to provide investors with direct and easy access to digital assets such as crypto currencies, thereby setting a benchmark for this new market underway.
Germany's largest online financial portal finanzen.net already offers investors independent information on financial products as a basis for their investment decisions. As a trading venue, Boerse Stuttgart today provides a transparent and reliable environment for executing investment decisions. In future, the partners will be combining their offerings in the area of digital assets. Investors will find all the services they need for their investments - from information to trading - bundled on a single platform.
As part of the digital transformation of financial markets and products, Boerse Stuttgart Group and finanzen.net are expanding their long-standing cooperation. Axel Springer, Europe's leading digital publisher, brings to the partnership its many years of experience in developing sustainable digital business models. The plan is to establish a joint venture company based in Stuttgart and with an office in Berlin.
Boerse Stuttgart Group is to be majority shareholder in the joint venture. Axel Springer and finanzen.net will together hold 30 percent of the joint venture company, which will operate a trading venue for digital assets on the blockchain. The trading venue is set to launch in Germany first in summer of 2019. It will serve both retail and institutional investors.
Alexander Höptner, Chairman of the Management Board of Boerse Stuttgart GmbH: “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. 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 SE: “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.”
The Supervisory Board of the joint venture company will be composed of Alexander Höptner (Chairman of the Management Board of Boerse Stuttgart GmbH), Thomas Munz (Member of the Supervisory Board of Boerse Stuttgart GmbH) and Dr Valentin Schöndienst (Senior Vice President New Business of Axel Springer SE).
Dr Valentin Schöndienst: “Blockchain enables the digital transformation of the financial industry. Boerse Stuttgart has a proven track record in spearheading this development, which makes them the perfect fit for Axel Springer to shape and exploit new business opportunities in this field.”
The joint venture company is to be established soon and is waiting on the approval of the responsible committees and antitrust authorities.