A subsidiary company of one of the most important stock exchanges in Germany, Börse Stuttgart, will be releasing a crypto trading application during 2018. The company is known as Sowa Labs, and the information has been released on its website.
Sowa Labs to Release Bison
Sowa Labs will be releasing its own cryptocurrency trading app known as Bison. The application will be available in September and will feature Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) trading. At the moment, the company explained that more virtual currencies will be supported in the future.
An interesting proposal is that Bison will join the tendency to offer crypto trading services with no trading fee. This is something similar to what the application Robinhood did some months ago. Other cryptocurrency exchanges have been reducing trading fees in order to attract more users to their platforms. Bison will be available in German, and English in a later update.
Ulli Spankowski, Managing Director at 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. With Bison, also registering and providing proof of identity is less complicated.”
Another important feature of the app will be the ‘Cryptoradar’ service that will use artificial intelligence in order to filter the most important news in social media. That will allow users to have fresh and good quality information on which cryptocurrencies are being currently discussed.
According to an interview made by Swoba Labs, showed that investors want an easier access to the crypto market, and Bison is trying to accomplish this request and desire. “This is exactly what Buson is optimised to provide,” said Mr Spankowski.
Another application, Robinhood, offers a zero-fee online cryptocurrency trading. At the moment, the application allows users to trade Bitcoin and Ethereum, but other cryptos could be added in the future.
According to a statement released, the company explained:
“Next month [February], round-the-clock, commission-free cryptocurrency trading comes to the Robinhood platform. Trading will be limited to Bitcoin (BTC) and Ethereum (ETH), with more coins tradable later. Trading functionality for BTC and ETH will be released gradually in waves to Robinhood residents in California, Massachusetts, Missouri, Montana, and New Hampshire. Robinhood Crypto will be available in more states soon.”
In this way, cryptocurrencies keep expanding to other individuals that may not know what they are or how they work. At the same time, it is an easier way to offer crypto-trading to people that feels that the market is too complicated to understand or use.
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