Germany’s second largest stock exchange, Boerse Stuttgart group, has formally launched its crypto-trading app Bison, as per an official tweet today, Jan. 31.
According to the app’s webpage, the software was developed by FinTech Sowa Labs — a subsidiary of Boerse Stuttgart Digital Ventures. The developers’ reported aim in creating the app is to ease access to cryptocurrencies for investors that are familiar with using traditional markets.
Currently, the app permits free-of-charge trading in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP). Another subsidiary of the stock exchange, Blocknox, can act as custodian for users’ funds, using an escrow system, as per a press release published on Finextra today.
Boerse Stuttgart has conjointly partnered with an external banking partner, SolarisBank, which can process euro payments and provide fiat custodial services, the press release notes.
During the initial period following its launch, bison will be available solely in Germany, and its services will work from 6:00 a.m. to 12:00 a.m. CET. However, the stock exchange giant clarified that it plans to eventually extend trading to 24 hours every day. Access for residents of different European countries are going to be added by late 2019, whereas support for a lot of cryptocurrencies is additionally planned in future, as per the release.
Bison was initial proclaimed by the securities market in may, 2018.
As Top Market Group reported, securities market operators worldwide have an interest in launching crypto-related services. as an example, the stock exchange of Thailand (SET) is getting to set up a regulated digital asset exchange. Hong Kong is additionally set to launch a digital assets exchange in Q1 2019, supported by the technology solutions supplier for the London securities market group.
The much-anticipated digital assets platform Bakkt, created by the operator of the new york securities market, recently completed a $182.5 million funding round. more recently, Bakkt declared key vacancies at the firm, principally for senior developer positions.
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