Boerse Stuttgart’s Bison cryptocurrency trading app has achieved US$2.4 Bln in trading volume thus so far this year.
Bison has also seen an 83% hike within the number of active users to around 400k since the year began, consistent with Germany’s second-largest stock market.
Several days in January, daily trade volume doubled from around $42.3 Mln seen in November $84.1 Mln, the exchange added.
The user growth and trading volume “reflect the present high momentum within the cryptocurrency market and therefore the increasingly broad interest in crypto assets,” added Ulli Spankowski, CEO of Sowa Labs GmbH, the subsidiary of Boerse Stuttgart that developed the app.
Launched earlier in 2018, the app permits users to trade Bitcoin [BTC, -9.49%], Ethereum [ETH, -11.58%], Ripple [XRP, -19.16%], Litecoin [LTC, -18.13%] and Bitcoin Cash [BCH, -16.93%]. Bison makes takes advantage of the spreads between the purchasing and selling prices as against charging fees.
EUWAX AG, registered in Germany, is Bison’s trading partner and is regulated as a financial services provider.