A subsidiary of Boerse Stuttgart, the second largest stock exchange in Germany, named Sowa Labs announced a forthcoming cryptocurrency trading app. The new app named Bison is estimated to be available in German language during autumn, with the English version coming soon.
Bison will be available free of charge and with no additional trading fees and is made for proving a simple way for investors to get exposure to the cryptocurrency market. According to Sowa Labs, it will be the first cryptocurrency trading app backed by a stock exchange and the first to be released by a German company.
The managing director at Sowa Labs, Ulli Spankowski stated “Bison makes trading in digital currencies easy. It is the first crypto app in the world to have a traditional stock exchange behind it.”
At Invest in Stuttgart, a German finance and investment trade fair, a prototype for Bison has been presented.
The app will initially offer pairings for BTC, ETH, LTC, and XRP, with the company stating that additional crypto assets will be added later.
According to a survey of 1,019 crypto traders regarding their opinion on virtual currencies conducted by Sowa Labs, 16.9% of the respondents confessed to possessing at a single cryptocurrency while a further 18.2% stated that they owned several. Of the respondents, 81% were male and 19% were female, and 54% were thirty-five years-old or younger. Furthermore, 40.6% of men stating that they have one or more crypto trading accounts while only just 11% of women do so.
More than 80%of respondents opened their first cryptocurrency trading account since 2017, with 49.1% stepping foot into the market last year. Moreover, 67.8% of respondents do not trade more often than monthly, while 31% of market participants with age more than 35 years old are trading on a weekly basis and 11.5% making trades at least daily.