CEO of Germany's Stuttgart Stock Exchange: Strive to expand the encryption market share and personally have invested in Bitcoin

PANews reported on January 15 that according to Fortune Magazine, Matthias Voelkel, CEO of Germany’s Stuttgart Stock Exchange Group, said that the election of Donald Trump and his ambition to build the United States into a “Bitcoin country” are driving market expansion. And his group is seeking to capture a larger share of the cryptocurrency space. Although Voelkel did not disclose the specific amount of cryptocurrency trading at the Stuttgart exchange, he pointed out that this amount had tripled last year and accounted for approximately 25% of total revenue. He added that Bitcoin, the world's most important cryptocurrency, accounts for "nearly 50% of such activity." Late last year, the exchange revealed that the total amount of cryptocurrencies it holds for clients had reached €4.3 billion.

The exchange also said it has successfully attracted more than one million cryptocurrency trading customers, including professionals and private clients mainly from German-speaking countries. Voelkel also revealed that he has personally invested in Bitcoin and said that he was attracted by the tamper-proof technology behind Bitcoin. He believes cryptocurrencies will only grow in popularity, noting that Bitcoin has "limited supply and growing demand from investors of all ages."

As more players from the traditional financial world get involved in the cryptocurrency space, Voelkel hopes that the Stuttgart exchange can become "a partner for banks and European financial institutions to provide crypto services to their customers." To this end, the Stuttgart exchange has been forming partnerships with liquidity providers and banks to facilitate more crypto-related trading.