German Stock Exchange Boerse Stuttgart Releases Crypto Trading App

Announcements, News | February 1, 2019 By:

Boerse Stuttgart, Germany’s second-largest stock exchange, has officially rolled out its cryptocurrency trading app, Bison.

First announced in April 2018, Bison was developed by Sowa Labs, a FinTech subsidiary of Boerse Stuttgart. The app, which is now available for both iOS and Android devices, allows users to trade bitcoin, ethereum, Ripple, and Litecoin free-of-charge. Users do not need to set up a crypto wallet to begin trading as Blocknox, another subsidiary of the stock exchange, takes care of the custody of the acquired cryptocurrencies on an escrow basis. The stock exchange also partnered with SolarisBank to process euro payments and provide fiat custodial services.

“With Bison, we make trading in cryptocurrencies as simple as possible and break down entry barriers,” said Dr. Ulli Spankowski, CEO of Sowa Labs GmbH. “Bison is the first cryptocurrency trading app from a provider in Germany. Users can trade on Bison from 6.00 to 24.00 hours (CET) Monday to Sunday at the prices they find displayed in the app. Bison makes its money from the spread between the buying and selling prices displayed.”

The app reportedly combines fast set up and ID checks with an artificial intelligence-based news filter to provide a real-time view of market activity, social media sentiment and news. Spankowski said that more functions will gradually be added to the app.

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