A Stock Exchange In Germany Launched Its Crypto Trading App

Germany’s second-largest stock exchange has just launched its own crypto trading app. Developed by Boerse Stuttgart, the app will be available to cryptocurrency traders in the fall. Germany just took the lead among the major retail exchanges that are tapping into the cryptocurrency industry.

According to Sowa Labs, which is a fintech subsidiary of Boerse Stuttgart (Germany’s second largest stock exchange), the mobile app for trading cryptocurrencies will support trading in Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC). Obviously, as the app grows there will be more coins supported.

The Bison app currently rivals Robinhood which is another app that has been launched recently and has zero trading fees. Both of these crypto trading apps give a sign that retail exchanges are starting to emerge and participate in the rise of cryptocurrencies.

“This is the first crypto app in the world to have a traditional stock exchange behind it,” according to Ulli Spankowski, the Sowa Labs Managing Director (quoted in Finextra.)

What’s really impressive is that Bison is backed by a leading regional exchange which makes it appear more secure to the audience – and not just another fly-by trading program.

The main feature of the app and its competitive advantage are the zero trading fees. As Spankowski noted, the exchange eliminates the need for crypto wallets. Instead, users can download the app to start trading.

Spankowski also said:

“BISON also significantly reduces the complexity of registration and proof of identity. While the opening of a user account usually took several days, the use of BISON takes only a few minutes before it is released for trading,”

The traders will have to wait until September, according to the press release, during which time the app will be available for no charge. Bison is being unveiled in a prototype format at the Stuttgart trade fair for investors – and its mobile interface is currently in German (but will change to English soon, according to the developers).