Just when you thought big FIs were starting to shy away from cryto-trading, Sowa Labs, a subsidiary of German retail investment exchange, Boerse Stuttgart, announced today that it has developed a prototype app for secure trading in cryptocurrencies.
The app is called Bison. It is scheduled to roll out to public in fall this year. According to the announcement, Bison is offering the public fee-free access to investment in cryptocurrencies.
Ulli Spankowski, managing director at Sowa Labs, told Finextra:
It is the first crypto app in the world to have a traditional stock exchange behind it.
Speaking of cryptocurrencies, bitcoin, is currently trading at $8,155, up 6%, according to CoinBase. Although the price is trading higher than the past few weeks, that number is still far away from its all-time high of over $17K.