Germany’s second-largest stock exchange’s crypto trading app hit 1 billion volume this year

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  • Bison crypto trading app has recorded a new high with more than 1 million euro worth of cryptos traded on its platform this year
  • Last month the Bison several times the platform has faced crossing 35 million euro in 24-hour trading volume
  • With the surge in its volume, the number of users has also been increased
  • The trading platform of Bison is not the same as others

On Monday, Boerse Stuttgart revealed that its offered crypto trading app had hit a new record high. It is found that in Bison, a crypto trading app of the second-largest stock exchange of Germany, 1 billion euros or $1.2 billion worth of digital currencies have been traded this year so far. Last month the app’s trading volume was also seen achieving more than 35 million euros several times, as the user of the app has also been increased.

Bison crypto trading app achieved a new record

Boerse Stuttgart is the second-largest stock exchange in Germany. The exchange also operates a regulated digital asset exchange, namely Bison. Recently Bison achieved a new record as, so far this year, more than 1 billion euros ($1.2 billion) worth of virtual currencies have been traded on its platform. According to the German Boerse, last month, the average daily trading volume on Bison’s platform has surpassed around 35 million euros ($42.3 million) several times. It is also observed that the number of users on the Bison platform has also been increased to 2,06,000 this year, which is an increment of approximately 180%.

The surge in volume and number of users is beyond projections

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Sowa Labs GmbH, a subsidiary of the Boerse Stuttgart Digital Ventures GmbH, has developed the Bison trading app. According to Ulli Spankwoski, the chief executive officer of Sowa Labs GmbH, the surge in both volume and the number of users has gone far beyond the firm’s expectation. Additionally, he also mentioned that the positivity in the development seems, by offering reliable and simple trading options, the firm is making the right offer in the environment of the cryptocurrency market. 

Why is Bison different from others?

One feature has been observed that makes Bison different from other trading apps. Bison does not charge any fees for transactions. However, the firm makes a profit from the difference between the buying price and the selling price of the digital assets that are being traded. However, it meets its regulatory requirements, according to section 2, paragraph 12 of the German Banking Act (Kreditwesengesetz).

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Ahtesham Anis
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.

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