German Stock Exchange Launching Crypto App for Mainstream: Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash
Boerse Stuttgart, the second largest stock exchange in Germany, is establishing an end-to-end infrastructure for cryptocurrencies, as well as a regulated, multilateral trading venue for cryptocurrencies and custodial solutions.
Boerse Stuttgart is also launching a trading application called Bison. It will be the first crypto trading app developed by a major stock exchange. Scheduled for release this fall, the German app will initially offer free cryptocurrency trading for Bitcoin, Litecoin, Ethereum and Ripple. It will gradually add additional cryptocurrencies, and the English version is scheduled for a later release.
The company says that the development of Bison is designed to reach mainstream investors who want easier access to the cryptocurrency market. The app analyzes about 250,000 tweets from the crypto community every day and digests the most important information to show reflect mainstream sentiment of the biggest cryptocurrencies.
According to the company’s statement,
“Previously, opening a user account normally took several days, but with BISON activation for trading only takes a few minutes. There is ‘no need for crypto wallets’, and BISON does not charge any trading fees. Dr. Ulli Spankowski, Managing Director at Sowa Labs says, ‘Users can trade cryptocurrencies free of charge with the app.’
Another innovative feature of the app is the Cryptoradar service, which uses artificial intelligence to filter the glut of news in social media: it gives a general view of the market in realtime and provides information on which cryptocurrencies are currently being discussed.”
Boerse Stuttgart said it will also participate in crypto trading for the primary and secondary markets.
The company says it’s also developing a token-based platform to power and facilitate initial coin offerings (ICOs).
“At the trading venue, tokens issued via our ICO platform can be traded on the secondary market. This is an important success factor for ICOs. At the same time we are responding to demand from both retail and institutional investors for a regulated and reliable environment for trading with cryptocurrencies,” said Alexander Höptner, CEO at Boerse Stuttgart GmbH.