German Stock Exchange's Crypto Trading App Surpasses $1 Billion Volume This Year
Cryptocurrency trading on the app provided by Germany’s second-largest stock exchange, Boerse Stuttgart, has hit record volumes. One billion euros in cryptocurrencies have been traded on the exchange’s crypto trading app, Bison, so far this year.
1 Billion Euros Crypto Trading Volume
Germany’s second-largest stock exchange, Boerse Stuttgart, announced Monday that its cryptocurrency trading app Bison has reached a total trading volume of 1 billion euros (over $1.2 billion) so far this year.
The cryptocurrency trading volume on Bison also hit record highs several days in November, exceeding 35 million euros. The number of active users of the Bison app has also increased by 180% to 206,000 during the same time period.
“The increase in user numbers and the trading volume on Bison in the current year have far exceeded our expectations,” commented Ulli Spankowski, CEO of Sowa Labs GmbH, the subsidiary of Boerse Stuttgart Digital Ventures GmbH which developed the Bison app. He added:
The positive development shows that with simple and reliable trading we are making the right offer in an exciting market environment for cryptocurrencies.
Using Boerse Stuttgart’s Bison app, users “can trade bitcoin, ethereum, litecoin, bitcoin cash, and ripple (XRP) free of charge and at the prices displayed in the app,” the announcement details.
Boerse Stuttgart also operates a regulated cryptocurrency exchange called BSDEX (Börse Stuttgart Digital Exchange). The company explained that “BSDEX meets the regulatory requirements in accordance with section 2, paragraph 12 of the German Banking Act (Kreditwesengesetz).” Customers can use the exchange to buy and sell bitcoin, litecoin, ethereum, and XRP.
What do you think about Boerse Stuttgart’s record crypto trading volumes? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Borse Stuttgart
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