The Sowa Labs division of the Börse Stuttgart stock exchange, which takes second place in Germany, is planning to launch a cryptocurrency application this year. The product has been already created and was introduced last week. The application should be launched in September. Initially it will be possible to buy and sell only four major digital coins: BTC, LTC, XRP and ETH. Over time the product team plans to expand the list of cryptocurrency assets supported by the application.
The official website of the project says that Bison (the name of the application) will be distributed free of charge. Thus, developers do not plan to impose commission fees for services conducted through the service. The team demonstrated the work of the application’s test version in the framework of the exhibition in Stuttgart. “Bison will make trading digital coins easier for users. This platform will be the first cryptocurrency application created and maintained by a traditional stock exchange,” Ulli Spankowski, Head of Sowa Labs, said.
It should be noted that such a step is a clear demonstration of the interest shown by traditional exchanges towards the cryptocurrency market.