Digital innovation

for on-exchange and off-exchange trading in fungible products

About BSDV

The future of financial markets.

Our strategic objective is to invest in ventures forming the future of financing & investing.

We drive the digitization strategy of Boerse Stuttgart, leveraging strong assets: the leading European stock exchange for private investors, a strong international network to SME companies for whom we provide liquidity services, an ultra scalable technical trading platform for on- and off-exchange trading, secure systems and the regulatory framework of a regulated market. All these assets are used to take financing of companies and trading of securities or investments to the next level.

It is BSDV's mission to facilitate the digitization of market places and thus our investment value added goes beyond money.

Realizing operational leverage.

Our criteria to invest, engage and cooperate is to realize an operational leverage. Currently we have engagements in four different countries, ranging from Nordics to South-Eastern Europe.

There needs to be a clear upside use case to put the assets above to drive the success and development of the ventures, thus our investment scope is focused on the areas we know best and can optimally support the companies to succeed. If the strategic fit is there, we are agnostic to stage, size and target markets of the investment opportunity. Our engagement ranges from commercial cooperations, minority financing to acquisitions.

We are looking forward to getting in touch with you.



Simple, safely and reliably: Using BISON you can buy and sell Bitcoins, Ethereum, Litecoins and Ripple (XRP) via your own Smartphone. BISON is the first App for trading cryptocurrencies – it relies on Börse Stuttgart as a traditional securities exchange.

Launched 2019


Within Boerse Stuttgart Group, blocknox GmbH takes care of the custody of cryptocurrencies on an escrow basis. The service was established at the end of January 2019 for users of the BISON app and extended at the end of September 2019 for users of Boerse Stuttgart Digital Exchange (BSDEX). A multilevel security concept has been developed and implemented at blocknox for the custody of cryptocurrencies.

Founded 2018


The digital debt marketplace

DEBTVISION is a neutral digital platform for debt financing where companies, financial institutions and public sector are efficiently and directly connected with professional investors.

Founded 2018

AI & Predictive Data Analytics

Sowa Labs is a fintech startup specialized in predictive data analytics and disruptive applications in trading of financial assets and cryptocurrencies.


Learn more

Tokenisation Services

Tokenisation Services are part of Boerse Stuttgart Digital Ventures GmbH and an important component of the end-to-end ecosystem for digital assets of Boerse Stuttgart Group. From conception to realization and placement of tokens, Tokenisation Services offers its customers a comprehensive range of services - holistic, structured and reliable.

Founded 2020

Managing Directors

Dr. Ulli Spankowski

Ulli is Chief Digital Officer at Boerse Stuttgart Group. He is an experienced executive and fintech founder with a successful exit in 2017. From his working experience at Boerse Stuttgart Group, Sowa Labs, and the European Commission, he accumulated a deep knowledge ranging from financial derivatives and regulation to predictive data analytics tools, crypto currency trading and digital asset custody. Since September 2017, he has been Managing Director of Boerse Stuttgart Digital Ventures GmbH.

Ulli studied Economics and Finance at the Universities of Hohenheim, Ulm and Valencia and followed a PhD program in Finance at the University of Hohenheim with focus on market microstructure.

Raphael Polansky

Raphael is a financial and stock market expert with over ten years of experience in the areas of strategy, controlling, financial markets and digital assets. Since 1 July 2020, he has been Managing Director of Boerse Stuttgart Digital Ventures GmbH alongside Ulli. Raphael joined Börse Stuttgart in September 2018, since when he has held various management positions in the CEO area. Prior to that he worked for Deutsche Börse AG. During this time, he also founded his own start-up for trading in virtual goods, through which he acquired a broad knowledge of digital assets and all aspects of customer retention.

Raphael studied business administration with a focus on banking and finance, industrial controlling and economic geography at the University of Mannheim.

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Boerse Stuttgart Digital Ventures GmbH

Boersenstr. 4
70174 Stuttgart