Sowa Labs, the fintech subsidiary of Germany's second largest stock exchange, Boerse Stuttgart, launched a prototype of its cryptocurrency trading app that will be available free of charge from autumn.
The BISON app promises free, uncomplicated and secure trading in cryptocurrencies from users' smartphone.
The new app hopes to give traders an easy entry into the world of cryptocurrencies. The app was unveiled at the finance and investment trade fair Invest in Stuttgart.
"It is the first crypto app in the world to have a traditional stock exchange behind it," Ulli Spankowski, Managing Director at Sowa Labs, said.
The user interface of the app, which is available in German now, will also be offered in English later.
'With BISON, also registering and providing proof of identity is less complicated," Spankowski said.
Activation of the trading service will only take a few minutes and there is no need for crypto wallets.
The BISON app also has the Cryptoradar service that uses artificial intelligence to filter the glut of news in social media. The service gives a general view of the market in realtime and provides information on which cryptocurrencies are currently being discussed.
A recent survey among more than 1,000 persons, carried out by Sowa Labs, found that investors want easier access to the cryptocurrency market.
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