New app being developed

The Bison app, which was developed by Boerse Stuttgart, will be available to cryptocurrency traders in the fall. Germany is taking the lead among retail exchanges tapping into the cryptocurrency base.

Sowa Labs, a fintech subsidiary of Boerse Stuttgart, Germany’s second largest stock exchange for retail derivatives, has launched Bison, a mobile app for trading cryptocurrencies. Bison will support trading in bitcoin, Ethereum, Ripple and Litecoin. More coins will be supported soon.

The Bison app rivals the likes of Robinhood in that there are zero trading fees. Meanwhile, it’s a sign of the times that retail exchanges are starting to emerge from the sidelines to participate in the rise of cryptocurrencies.

“It is the first crypto app in the world to have a traditional stock exchange behind it,” according to Sowa Labs Managing Director Ulli Spankowski quoted in Finextra.

Meanwhile, the fact that Bison is backed by a leading regional exchange bolsters its profile for user security. It’s not just a fly-by-night trading platform.

Bison’s key feature is zero trading fees. “Users can trade cryptocurrencies for free in the app,” said Spankowski. The exchange added that “crypto wallets are not needed.” Instead, users can simply download the app to start trading.