Boerse Stuttgart is Germany’s 2nd largest stock exchange. Its subsidiary Sowa Labs is going to launch a forthcoming crypto app. This app will be called Bison and will in all probability be released in Autumn. The app will be released in German with an English version following soon after.
This app aims to help give exposure to investors to the crypto markets. The app will, therefore, be free of charge and will be devoid of any additional trading fees. According to Sowa Lab, their app will be the first so far to be backed by a stock exchange. It will also be the first of its kind to be launched 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.”
A prototype of this app was presented at the German finance and investment trade fair, Invest, in Stuttgart. The app will start with pairings for BTC, ETH, LTC, and XRP, and it will later incorporate additional crypto assets.
Sowa Labs Publishes Survey on Cryptocurrencies
The subsidiary has surveyed 1019 crypto traders to gauge their opinion on virtual currencies. The respondent break was: 81% male, 19% female, and 54% were 35 years of age or above.
Single cryptocurrency owners were 16.9% while 18.2% respondents said they owned several. Male dominance in the crypto space was clearly evident with 40.6% men having one or more than one crypto trading accounts while only 11% women claimed the same.
Over 80% of the respondents had opened their 1st cryptocurrency trading account from 2017 onwards, with 49.1% entering the market just last year. 67.8% of respondents said they do not trade more often than monthly. Out of the Market participants, those aged over thirty-five engaged in trade more frequency than their younger counterparts. 31% of older respondents trade on a weekly basis, and 11.5% make trades at least daily.