Germany’s second largest stock exchange, Börse Stuttgart, developed a cryptocurrency trade app, Bison, through its fintech subsidiary Sowa Labs. The Bison cryptocurrency exchange supports Bitcoin, Ethereum, Litecoin and XRP.
Bison App entered beta testing in January 2019, the stock exchange said on its official Twitter account. Its app represents the first cryptocurrency trading platform built by a traditional securities exchange.
The stock exchange’s objective is to create a simple way to buy, sell and trade cryptocurrencies. It consists of four steps before you can purchase any cryptocurrency:
1. Download Bison app.
2. Complete your registration.
3. Verify your information.
4. Add money to your account from your German bank account.
Using the exchange does not even require a cryptocurrency wallet. It works directly with a user’s bank account. It also charges no fees. It processes all transactions through its trading partner, the financial services provider EUWAX AG.