BSDEX or Boerse Stuttgart Digital Exchange, which shares its operator with the main public stock market in Stuttgart – is rolling out a new mobile app for cryptocurrency traders.
As a digital assets trading venue that fulfills the regulatory requirements of the German Banking Act, the venue has been a pioneer within the mainstreaming of crypto in Germany. Earlier, investors had access to a previous crypto trading app referred to as Bison, which was primarily launched earlier in 2019. Today’s announcement of a new app indicates that users will now be able to trade Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], and Ripple [XRP].
Over 20k users are presently using BSDEX, which is operated by Baden-Wuerttembergische Wertpapierborse GmbH – an equivalent operator that runs Stuttgart’s public stock market. The fully regulated exchange has three institutional participants serving as its liquidity providers: Boerse Stuttgart GmbH subsidiary EUWAX AG, Bankhaus Scheich, and Crypto Broker AG.
In terms of custody arrangements, Boerse Stuttgart Digital Ventures GmbH subsidiary Blocknox GmbH customers BSDEX user assets on an escrow basis. When it involves trading, the venue charges fees that change consistently as differing types of orders.
The CEO of BSDEX’s technical operator, Maximilian von Wallenberg, Boerse Stuttgart Digital Exchange GmbH, revealed that the choice to offer a convenient trading option for smartphone users has been taken in response to investors’ needs:
“We see enormous customer demand for a reliable and transparent German trading venue for Bitcoin, Ethereum, and Co. This is often also reflected by the trading volume on BSDEX, which has now exceeded 1 Bln euros since our market entry.”
The app will permit users to look at their cryptocurrency holdings, track crypto charts and access basic and advanced order types, very similar to the desktop version.