The German country continues to make progress with regard to legislation in the area of cryptoactive substances. This time, in particular, Germany is news because Sowa Labs, a subsidiary and subsidiary of the second largest cryptocurrency exchange in the country, Börse Stuttgart, will design and launch an app that will allow the trade of cryptoactives.
The information, which was disseminated through an official communiqué, points out that the application, which will be called "Bison", will be available during the month of September and, initially, will support in its platform the trade of different cryptoactives, such as Bitcoin (BTC), Ethereum (ETC), Litecoin (LTC) and XRP. The website also indicates that more assets will be included in the future. Bison also states that commercial fees will not be charged. On the other hand, the app will be launched, initially in German, to then give way to a platform available in the English language.
In this regard, Dr. Ulli Spankowski, general manager of Sowa Labs, stated the following:
Bison facilitates the cryptocurrency trade. It is the first encryption application in the world that has a traditional stock market behind it.
Börse Stuttgart acquired a 100 percent stake in Sowa Labs when it bought the startup fintech in December last year. Alexander Höptner, member of the board of directors of Börse Stuttgart, said that the acquisition helped to fulfill part of the digital strategy of the exchange. Although the exact cost of the acquisition is unknown, Höptner spoke of a seven-digit figure.
During the past month, the Canadian bond exchange Shorecan DCN announced a partnership with Paycase Financial to launch a cryptocurrency brokerage service. The new initiative is expected to be launched in the second quarter of 2018. In this sense, the intermediation platform will focus on the commercialization of Bitcoin and Etherum.