Traditional stock exchanges continue to explore new opportunities in the cryptocurrency market. Germany's second-largest stock exchange, Borse Stuttgart, is making strides with its upcoming cryptocurrency trading app, Bison, developed by its fintech subsidiary Sowa Labs.
Key Features of Bison App
- Launch Date: September 2018 (initial release)
- Supported Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). Additional assets will follow.
- Fee Structure: Free to download with zero transaction fees at launch.
- Backing: First cryptocurrency app globally supported by a traditional stock exchange.
Background and Development
Sowa Labs, acquired by Borse Stuttgart in December 2017, is spearheading this initiative. The acquisition, reportedly worth millions of euros, underscores the exchange's commitment to fintech innovation.
Ulli Spankowski, Executive Director of Sowa Labs, emphasized:
"Bison simplifies digital currency trading, bridging the gap between traditional finance and crypto markets."
Global Context
This move aligns with a broader trend of traditional financial institutions entering the crypto space:
- Canada's TMX Group: Announced plans to launch a cryptocurrency brokerage in Q2 2018, focusing initially on BTC and ETH.
- Other Exchanges: Exploring similar ventures to capitalize on growing investor interest.
FAQs About Bison App
1. When will Bison be available for download?
The app is expected to launch in September 2018.
2. Which cryptocurrencies will Bison support initially?
BTC, ETH, XRP, and LTC, with more assets added later.
3. Are there any transaction fees?
No. Bison will offer zero-fee trading at launch.
4. Who developed the Bison app?
Sowa Labs, a fintech subsidiary fully owned by Borse Stuttgart.
5. Why is this app significant?
It’s the first crypto trading app backed by a traditional stock exchange, combining institutional credibility with user-friendly access.
6. How does Bison compare to other crypto platforms?
Unlike standalone crypto exchanges, Bison leverages the infrastructure and trust of an established stock exchange.
Why This Matters
👉 Discover how traditional finance is embracing crypto innovation
The entry of major stock exchanges into cryptocurrency trading signals mainstream adoption and could attract institutional investors seeking regulated platforms.