The second largest stock exchange in Germany, Börse Stuttgart, will launch a cryptocurrency exchange application that will no charge trading fees. The application will be called Bison and will feature some important cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP).
Börse Stuttgart Launches Bison
Bison is the name that Börse Stuttgart has decided to give to their new virtual currency exchange app. The information was released by Swoba Labs on Friday, a subsidiary company of Börse Stuttgart and creator of Bison.
The app will feature some of the most important cryptocurrencies in the market (BTC, ETH, LTC, XRP), and in the future they have plans to add support for some other currencies. The app will be available first in German and with a later update, English language will be supported.
Ulli Spankowski, the Managing Director of Swoba Labs, commented:
“Bison makes trading in digital currencies easy. It is the first crypto app in the world to have a traditional stock exchange behind it.”
The company has decided to create an application that is easy to use and that will allow more people to trade digital currencies from their telephones.
“With Bison, also registering and providing proof of identity is less complicated,” said Mr Spankowski. “This is exactly what Bison is optimized to provide.”
The application will offer a “Cryptoradar” service that will use artificial intelligence to provide the users with the most important news in social media. The main intention with this functionality is keep the users informed about the latest developments in the crypto space, and know which currencies are being discussed the most.
One of the most important features is that the application will not charge trading fees, something that will make it very competitive in the market. In the last months, some crypto exchanges have been reducing their withdrawal and trading fees in order to keep attracting more users.
At the moment, the trading application Robinhood, offers a similar service (trading of cryptocurrencies) and it does not take trading fees from its users.
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