Boerse Stuttgart Launches Germany's First Crypto Trading App

Stock exchange operator Boerse Stuttgart announced the launch of a new cryptocurrency trading application this Thursday. The German firm said the new application, which is called Bison, was developed by its subsidiary, Sowa Labs.

The exchange operator says that it is the first company in Germany to have launched a cryptocurrency trading application. For now, the application is only going to be available in Germany but, the company says, it will expand to other countries in the near future.

Currently, traders will only be able to use the application from 06:00 am until midnight, though trading will be available seven days a week.

Sowa Labs' CEO, Ulli Spankowski, says that the company will be making money from the spread. The author could not access the application to confirm the veracity of that claim but, with past experience in mind, any user of the application should treat such a statement with a level of skepticism.

No need to open a wallet

According to a statement issued by the firm, the application has fast set up and identity checks - things that have held back prospective traders in the past.

The application itself has a news-feed, which Boerse Stuttgart says makes use of artificial intelligence.

Traders using the application do not have to set up a wallet in order to trade. That's because Blocknox, another subsidiary of Boerse Stuttgart, acts as custodian for users of the application by using an escrow system.

Traders will be able to deposit into the application using euros. Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and fiat currency custodial services for the application are going to be handled by solarisBank - an external partner of the exchange operator.

The firm also discussed some of the changes it plans on making to the application in the near future.

“These will include the extension of trading to 24 hours a day, seven days a week, and additional trading functionalities," said Spankowski. "We will also enable trading in further Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, which will be selected considering criteria such as market capitalisation, customer interest and whether they can be kept in safe custody.”