Germany’s Second Largest Stock Exchange Boerse Stuttgart Rolls Out New Crypto-Trading App

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by Daria Rud · 3 min read
Germany’s Second Largest Stock Exchange Boerse Stuttgart Rolls Out New Crypto-Trading App
Photo: Börse Stuttgart / Twitter

The new Boerse Stuttgart’s app Bison is aimed at making access to cryptocurrencies easier for investors accustomed to using traditional markets. Available only in Germany, it will be provided in other EU countries during 2019.

An amazing announcement has come from Germany’s second largest stock exchange, Boerse Stuttgart. The exchange has launched its own mobile app for cryptocurrency trading. Called Bison, the app is already available for iOS 9+ and Android 4.4+ devices in Germany.

As Boerse Stuttgart said, the app was developed by its subsidiary, Sowa Labs. It took a year to create Bison.

According to the press release, Bison is aimed at making access to cryptocurrencies easier for investors accustomed to using traditional markets.

Dr. Ulli Spankowski, CEO of Sowa Labs GmbH, commented:

“With BISON, we make trading in cryptocurrencies as simple as possible and break down entry barriers.”

He added that Bison is the first cryptocurrency trading app from a provider in Germany.

Currently, the app enables free-of-charge trading in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP), including the funding of these account with euros. For that, Boerse Stuttgart partnered with an external banking partner SolarisBank.

Users are able to trade on Bison from 6.00 to 24.00 hours (CET) Monday to Sunday at the prices that are displayed in the app. According to Dr. Ulli Spankowski, the company will get profit from the spread the buying and selling prices.

Moreover, Bison will act as a wallet for storing tokens and carry no trading fees as a result of its partnership with its financial subsidiary EUWAX that will handle all the trades. Another Bison’s partner Blocknox will handle custody of the coins.

The advantage of the app is that it is easy to use and has a clearly arranged user interface. To register and prove the identity by video-identification, users will need only a few minutes. When identified, they can then transfer money into their Bison account to trade digital currencies.

After the launch, additional functions will gradually be added to Bison, as the developers will be continuously refined. Dr. Ulli Spankowski revealed what these functions may be:

“These will include the extension of trading to 24 hours a day, seven days a week, and additional trading functionalities. We will also enable trading in further cryptocurrencies, which will be selected considering criteria such as market capitalization, customer interest and whether they can be kept in safe custody.”

Now, Bison is available only in Germany, but the team behind the app promises it will be provided in other EU countries during 2019.

Boerse Stuttgart to Immerse Deeper into Crypto Sphere

Boerse Stuttgart is Germany’s leading floor-based exchange. It enables investors to trade equities, securitized derivatives, debt instruments, exchange-traded fund units (ETFs), investment fund units and participation certificates.

Being the European exchange number one in the securitized derivatives segment, Boerse Stuttgart implements all the regulatory and control mechanisms. Last year, Boerse Stuttgart managed to record a total trading volume of around
EUR 71 billion across all asset classes, which made it Europe’s tenth largest exchange.

In August 2018, Boerse Stuttgart decided to get deeper involved into the crypto sphere and to create a “multilateral regulated trading venue”. In December, the exchange revealed its plans to launch a crypto trading platform by the second quarter of 2019. Now we see that the intentions of the exchange are very serious and in the near future, Boerse Stuttgart will be even more engaged in the crypto-related activities.

Altcoin News, Bitcoin News, Cryptocurrency news, Ethereum News, News
Daria Rud
Author Daria Rud

Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.

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