Börse Stuttgart financed subsidiary publishes crypto trading app
By Patrik Eberle – 14 April 20181
One of the largest German stock exchanges (Stuttgart Stock Exchange) announced yesterday that it will introduce a crypto currency trading app this year. Sowa Labs, a subsidiary of the Stuttgart Stock Exchange, announced that its application will offer trading in several of the largest crypto currencies by market capitalization.
Prototype of the new Krypto Trading App presented in Stuttgart
The new app is called Bison and will be available for download from September this year. One of the most exciting features of the application is its low cost. The download is free, and according to Bank Innovation, trading will also be commission-free.
A test version of the application will be presented at a trade fair in Stuttgart this week. Currently there are the possibilities to trade Bitcoin, Litecoin, Ether and Ripple. The Bison homepage* mentions that further crypto currencies are planned after the publication in September.
The focus of the app seems to be on enabling users to enter the world of crypto currencies as easily as possible. The Bison app has been optimized for fast and effortless trading. Dr. Ulli Spankowski, Managing Director of Sowa Labs:
“BISON MAKES TRADING IN DIGITAL CURRENCIES EASY. IT IS THE FIRST CRYPTO APP IN THE WORLD SUPPORTED BY A TRADITIONAL STOCK EXCHANGE.”
In addition to the free trading model, Sowa Labs also offers the first users interested in the Bison application the opportunity to win prizes in crypto currencies. Those who register now will be added to the “VIP List” and have the opportunity to win prizes in the form of Bitcoin, Ethereum, Litecoin and Ripple. All you have to do is enter your email and your first name. You can register for the competition under this link*.
The Stuttgart Stock Exchange
The scamcontrol Stock Exchange is the second largest German stock exchange after the Frankfurt Stock Exchange. This company acquired a 100 percent interest in Sowa Labs last December. The exact amount for the Fintech start-up is unknown, but according to Waters Technology it was a “seven-figure” deal. It seems that more and more institutional figures are interested in crypto currencies, and with this step the Stuttgart Stock Exchange is now a pioneer in the German-speaking world.
Yahoo Japan plans its own crypto exchange
Coincidentally, the introduction of bison is not the only news that a major institution is entering the crypto business. Yahoo! Japan also has plans to enter the industry. Although the Internet giant will not put its platform into operation until April 2019, preparations are already underway.
Yahoo! Japan will initially acquire a 4o percent stake in the existing BitARG stock exchange. According to reports, this will cost around 2 billion yen – around 19 million dollars. BitARG is already fully operational and has the approval of the Financial Services Agency in Japan. They are currently one of 16 digital currency exchanges supported by the Japanese regulatory authority.