As cryptocurrencies expand, different traditional financial institutions start to offer crypto-related services and products. This time, Börse Stuttgart, one of the most important stock exchanges in Europe and the second largest in Germany, launched a cryptocurrency trading platform through one of its subsidiaries.
Börse Stuttgart Launches Crypto Trading Platform
Börse Stuttgart is currently handling over $100 billion dollars (€83 billion) in trading volume, and it has decided to offer cryptocurrency trading services. The platform is known as Bison and will allow individuals to trade Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), and Litecoin (LTC). The company has also explained that they will be offering more virtual currencies in the future.
Ulli Spankowski, managing Director at Swoba Labs, said:
“Bison makes trading in digital currencies easy. It is the first crypto app in the world to have a traditional stock exchange behind it. With Bison, also registering and providing proof of identity is less complicated.”
Bison’s website says that they will start their operations in September. At the moment, they are also offering a contest for those users that are the first to use the platform. They will have a chance of winning 3 Bitcoins.
The company will be offering a free trading platform, but they do not explain how they will be earning revenue. Moreover, Bison says that they will be analysing more than 250,000 tweets and that they will be making a summary for users to understand how negative or positive the market is towards one or another virtual currency.
Börse Stutgart decided to create a service and product that would help more users to start using cryptocurrencies and trading them. That’s why they’ve decided to simplify the trading activities and offer a very friendly interface. New users and more advanced ones will experience a simple way to trade virtual currencies.
Börse Stuttgart says:
“So far, investing in Bitcoin, Ether & CO. has been anything but easy. Bison consistently breaks down barriers: The app is easy to use, the user interface is available in German, later also in English.”
Image Börse Stuttgart