The Frankfurt Stock Exchange (FSE) will be the first major exchange in Europe to be converted into an electronic trading platform for the digital currency bitcoin.
The platform, which is due to open for trading on 1 December, is a partnership between Frankfurt exchange CDEX and exchange BFX.
The exchange will have the ability to trade on both the bitcoin and euro currencies.
The digital currency will be traded on a blockchain, a shared record of transactions, and will not be traded directly on the exchange.
The exchange is working on a number of innovations to ensure that the exchange is fully compliant with all regulatory requirements and the laws.
CDEX CEO Christian Höhne said that he expected the exchange to become a major trading platform in the coming years.
He added: “We have been working for several years with partners and exchanges, including our partners, to develop a system that will be able to function and facilitate all of our operations in an open and transparent manner.
We have seen how well bitcoin has grown and how it can be used to meet the growing demand of our customers.
We will soon be launching an exchange for bitcoin that will allow us to trade bitcoin directly on CDEX.”
Höhnge said that the digital currencies exchange was already a success and that the new exchange will bring even more value to the market.
The two-year plan for the exchange, which was launched earlier this year, includes adding two more exchange terminals, adding more staff, and the launching of a second exchange, with more offices.
He added that CDEX would also be working with other major exchange operators to launch exchanges for other digital currencies, as well.
“Our aim is to have at least three other exchanges, all of which will be fully compliant and transparent.
We also want to have some exchanges for digital currencies like ethereum and litecoin.
We are looking for new exchanges that will cater to our customers and that we can integrate our existing customers,” he said.
CDex is also working with financial institutions and payment companies to provide trading solutions for bitcoin.
It has already established a relationship with the US payment company BitPay, and has also announced an agreement with the German insurance company Munich Re.
Höhl is confident that the technology will help to bring greater transparency to bitcoin trading.
He said that it was a good way for financial institutions to accept the cryptocurrency and also to offer digital currency trading to the broader market.
“In the future, we will start to offer trading for other virtual currencies like litecoins, which will become a way for people to get their funds and assets in the bitcoin market.”
The Frankfurt exchange is the first large-scale exchange in the world to offer bitcoin trading, according to Höhl.