German stock exchange launches zero fee crypto trading app. Stuttgart Börse which holds a trading volume of $100 billion announced the zero fee crypto trading app on May 17. The smartphone app “Bison” will be free to use as of 2018 and has developed together with Fintech startup Sowa Labs.
The cryptocurrencies – Bitcoin, Ethereum, Litecoin and Ripple, will be supported from the app’s launch. The app will add more digital assets in the future. The interface and zero fee crypto trading process will be user friendly surpassing the need for crypto wallets or paperwork.
Cryptoradar is an artificial intelligence data analysis tool which analyzes over 250,000 crypto-related tweets from the crypto community in real-time. Cryptoradar’s algorithm on the Bison website shows Bitcoin, Ethereum and Litecoin as neutral while Ripple is moving towards the positive spectrum.
A prototype was showcased at the finance and investment trade fair yesterday in Stuttgart. Managing Director at Sowa Labs, Dr Ulli Spankowski commented that:
“Bison is the first crypto app in the world to have a traditional stock exchange behind it”
Sowa Labs survey of over 1,000 partakers shows that’s most investors would prefer a user friendly crypto trading app.
Cointelegraph reported last week concerning ‘Robinhood’ stock trading app who raised $363 million for expansion of its crypto platform – with plans to support 16 cryptocurrencies with no fee attached. Robinhood is now the second most valuable fintech startup in the U.S. with value $5.6 billion, and an SEC-compliant broker-dealer status unlike leading US crypto trading platform Coinbase.
Besides the user friendly entry points in the crypto space for investors is Stuttgart Börse’s new crypto venture where New York Stock Exchange owners announcement of plans to offer Bitcoin swap contracts that will be settled in Bitcoin. This move will enable Wall Street clients to buy and hold digital assets.
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