Good news from Germany today, as the second largest stock exchange in the country, Boerse Stuttgart Group, launched a crypto trading app called Bison.
After the first official announced of the Bison app by Germany’s second largest stock exchange in May 2018, it had been rather quiet around the trading app. After the New York Stock Exchange introduced Bakkt, many retail investors weren’t paying a lot of attention to the project anymore.
But, today, the German stock exchange, Boerse Stuttgart Group, finally launched Bison, a cryptocurrency trading app for retail investors. The stock exchange shared the news of the launch in a tweet:
Licht an, Vorhang auf: BISON IST DA! 🥳🙌😊🤩📲
Ab sofort in den deutschen App Stores verfügbar: https://t.co/9sYg6STW81#launch #release #finance #btc #release #start #crypto #cryptocurrency #innovation #eth #xrp #LTC pic.twitter.com/5hb8VlFkuL
— BISON App (@bisonapp) January 31, 2019
According to the Bison app website, currently, the app only supports the trading of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP). Another subsidiary of the stock exchange, Blocknox, will act as custodian for users’ funds, using an escrow system, according to a press release published on Finextra today.
During the upcoming period, Bison will only be available only in Germany and its services can only be used from 6.00 AM to 12.00 AM CET. That said, the stock exchange announced that it plans to eventually extend trading to 24 hours a day. Access for residents of other European countries will be added by late 2019, while support for more cryptocurrencies is also planned in the future, according to the official press release.
Boerse Stuttgart has also partnered with an external banking partner, SolarisBank, which will process euro payments and provide fiat custodial services, the press release notes.