The Stuttgart stock exchange’s app, the Bison app, welcomed its 100,000th user on 30 March. The financial application has now been in operation for 14 months. The Stuttgart Stock Exchange gained 40 percent new customers in the first quarter of this year alone.
A milestone thanks to crypto-friendly laws
It is possible that the change in the legal situation with regard to cryptocurrencies has promoted the adaptation of the Bison App. Since January 1, new regulatory provisions have been in force through the Federal Financial Supervisory Authority (BaFin) with regard to virtual coins. This should provide greater clarity not only for providers in this area, but also for crypto fans.
In a press release dated March 30, Dr. Ulli Spankowski, chairman of the board of Sowa Labs GmbH, the subsidiary of Boerse Stuttgart Digital Ventures GmbH, which developed the BISON app, explains: „The number of active users of BISON has increased by more than 40 percent since the beginning of 2020. Even in the turbulent market phases of recent months, we have been able to offer the usual simple and reliable trading of cryptocurrencies. On this basis we want to steadily increase our user numbers“.
Who uses the Bison App?
Citizens with 72 nationalities can use Bison, provided their main residence is in Switzerland or the European Economic Area. The developers state that the average age of the users is 37 years. However, the age of the users ranges from 18 to 91 years. What users use particularly frequently with the Bison app is the Bitcoin trade function. The day with the most intensive trading volume is Wednesday.
Users can trade via the Bison app Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP). However, another digital currency is expected to be added to the offering soon: Bitcoin Cash (BCH). The developers are also working on a desktop version of the app.