The Borse Stuttgart is in line to launch a new Crypto exchange next year. The app, dubbed the Bison App, has been created by Sowa Labs and upon launch will be supporting Bitcoin, Litecoin, Ethereum and XRP. Borse Stuttgart, which currently stands as the second largest exchange in Germany, owns Sowa Labs.
Bison Labs To be Launched In January
This announcement was made public by Sowa Labs via a Twitter post which also announced that it will be carrying out a beta testing phase next month. This has been seen as a significant move on the part of the exchange which is ranked ninth in the list of the largest stock exchanges in Europe.
The tweet stated that the Beta phase will be beginning, with the team already having a VIP list of people. It went on to add that the app will be published on the German app stores and will be welcoming new subscribers in January.
During the first mentions at the possibility of launching the Bison app, Sowa Labs had stated that the application had been developed to compete with the Robinhood app. It was supposed to be better than Robinhood in that it would provide fee free trading to its users. During this time, in April this year, Ulli Spankowski also described the app as being the first to be backed by a traditional brick and mortar stock exchange. Spankowski is the managing director for Sowa labs.
The Bison app had originally been slated to be launched in September this year. However, several delays experienced by the team behind it have seen its launch date be pushed to the coming year.
App To Be Rolled Out In Tiers
Bison app also confirmed through the twitter post the Cryptocurrencies that it will be supporting Bitcoin, Litecoin, XRP and Ethereum initially adding that other digital assets will be added on to the platform with time.
Going by the information that had been earlier provided, one aspect of the improved design of the platform will include a simple and easier verification process for users and UX solutions that will allows users enjoy a seamless experience on the platform. According to Spankowski, another added benefit that comes with the platform’s unique design is that it will take Bison app users just minutes to complete the KYC process, in stark contrast to the days it takes other platforms.
Users will also enjoy the use of a tool dubbed the Cryptoradar. This tool will be analysing over 250,000 tweets to know the mood of investors through twitter and providing bison app users with real time information on any trends experienced there. After the launch which is slated to take place in January, the app will then be rolled out to groups in tiers.
Germany Pursuing Blockchain
Germany continues to explore the uses of Blockchain technology for its economy with an enthusiasm that has not been mirrored by others. The nation’s central bank had partnered with Deutsche Boers in the efforts of carrying out a Blockchain settlement trial which has been recently concluded.