German Stock Exchange Subsidiary Announces Crypto Trading App Bison
Sowa Labs, a subsidiary of Boerse Stuttgart, Germany’s second-largest stock exchange, has announced a forthcoming cryptocurrency app. The new app, Bison, is expected to be made available in German during Autumn, with an English version expected soon after.
Boerse Stuttgart Subsidiary Announces Forthcoming App Cryptocurrency Trading
Bison will be made available free of charge and is designed to provide a simple means for investors to gain exposure to the cryptocurrency markets. Sowa Labs has claimed that Bison will be the first cryptocurrency trading app to be backed by a stock exchange, and the first to be released by a German company. Bison states that will not charge additional trading fees.
The managing director at Sowa Labs, Ulli Spankowski stated “Bison makes trading in digital currencies easy. It is the first crypto app in the world to have a traditional stock exchange behind it.”
A prototype for Bison has been presented at Invest in Stuttgart – a German finance and investment trade fair. The German version of Bison is currently scheduled for release in autumn, with Boerse Stuttgart announcing that an English version will be launched later.
The app will initially offer pairings for BTC, ETH, LTC, and XRP, with the company stating that additional crypto assets will be added later.
Sowa Labs Publishes Survey on Cryptocurrencies
Sowa Labs has conducted a survey of 1,019 crypto traders regarding their opinion on virtual currencies. Of the respondents, 81% were male 19% were female, and 54% were thirty-five years-old or younger.
16.9% of respondents confessed to possessing at a single cryptocurrency, whilst a further 18.2% stated that they owned several. The survey against evidence the cryptocurrency space to be male-dominated, with 40.6% of men stating that they have one or more crypto trading accounts, compared to just 11% of women.
More than 80% of respondents opened their first cryptocurrency trading account from 2017 onwards, with 49.1% entering the markets last year. 67.8% of respondents do not trade more often than monthly. Market participants aged over thirty-five trade with higher frequency than their younger counterparts – with 31% of older respondents trading on a weekly basis, and 11.5% making trades at least daily.
Do you think that more mainstream financial institutions will provide cryptocurrency trading apps to their customers? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Bisonapp.de
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