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Boerse Stuggart, the second-largest stock exchange in Germany, has announced that its cryptocurrency trading app has attracted around 81,000 active users in the first year.
The app, called BISON, developed by Sowa Labs GmbH, a subsidiary of Boerse Stuttgart Digital Ventures GmbH. Launched in early 2019, it allows users to trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP), free of charge and at the prices displayed in the app.
“We are very satisfied with the level of take-up for BISON. Our approach has been to make trading in cryptocurrencies as simple as possible, and the response has been excellent. Over the past twelve months, we have received a great deal of valuable feedback from users that we incorporate into the further development of BISON,” said Dr. Ulli Spankowski, CEO of Sowa Labs GmbH.
The trading partner of the users at BISON is EUWAX AG, a subsidiary of Boerse Stuttgart GmbH that is regulated in Germany as a financial services provider.
According to a press release, BISON has started allowing users to transfer Bitcoin from their private wallets to the app. It said that it plans to roll out this feature for the other tradable cryptocurrencies.
The app has also been upgraded with individual price alerts and an info report showing amounts to be declared for tax purposes. BISON is available for download by users based in the European Economic Area and Switzerland.
Going forward, BISON plans to launch a desktop version and introduce Bitcoin Cash as an additional tradable cryptocurrency.
In September, Boerse Stuttgart launched Boerse Stuttgart Digital Exchange (BSDEX), which is regulated under the German Banking Act. Last month, it announced that the digital assets exchange is now open to all German investors. Japanese financial services giant SBI Holdings has recently announced its plans to invest in Boerse Stuttgart’s digital asset-related subsidiaries.
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