As the Intercontinental Exchange (ICE), which the New York Stock Exchange is the product of, is edging towards launching its very own crypto-market, Bakkt. The ICE has now being joined in as the second largest German Stock Exchange gets pumped up to launch its very own application titled, Bison being developed by Boerse Stuttgart. The German developers claim the application would operate featuring the end-to-end functionality. The app is set to launch this fall.
The German app is specifically a product of the Sowa Labs that was acquired in the eventually turn to be titled, Boerse Stuttgart Digital Ventures, claiming to provide to the user a free end-to-end cryptocurrency dealing without having any sort of hindrance or hardship for the user as major capital gets transferred through the application. The managing director at Sowa Labs, Dr. Ulli Spankowski has been real passionate about their application, stating that the app has led us to a milestone for the cryptocurrencies as they are set to bring in the very first crypto-app in the market backed up by a stock exchange.
It is the first crypto app in the world to have a traditional stock exchange behind it.
The app boasts many ups from the already established crypto-applications among which are some eye-popping additions and promises for investors to safely put their money in without flickering their brows, always on the look-out there might be some risks involved. Faster ID checks, safer routes from one party to another without any sort of trading fee are the key features the application boasts that can lure in major investors that can make the crypto-market flourish even more. The application involves artificial intelligence to decide the aptitude of the app user and bring them their type of the major crypto-news.
BISON offers crypto-trading in bitcoin, ethereum, ripple and litecoin as humble beginnings. The BISON developers do not merely focus over their application but acknowledge the entire crypto-network and plan to extend to other markets and franchises that deal in cryptocurrency. Another benefit Spankowski boasts is that the user-friendliness of the application as the user can manage the app without any difficulty without any sort of pre-knowledge of the application. He states,
BISON also significantly reduces the complexity of registration and proof of identity. While the opening of a user account usually took several days, the use of BISON takes only a few minutes before it is released for trading.
The Borse Stuttgart released the announcement stating the pros of the application that the developers are flashing as the key features of the product and can ease the investor to check in on the cash they have invested in. The announcement reads,
Boerse Stuttgart Group is creating an end-to-end infrastructure for digital assets. After the start of cryptocurrency trading via BISON, there will soon be a platform for initial coin offerings (ICOs), a multilateral trading venue for cryptocurrencies as well as solutions for safe custody. Boerse Stuttgart Group thus continues to pursue its digitisation strategy and is becoming a pioneer for the digital transformation of financial markets and financial products.
The crypto-market have always been seen as less transparent and more prone to scammers that scam the investors and the customers off of their investments. The CEO of Boerse Stuttgart GmbH, Alexander Höptner has promised the user a less complex but a strongly secured network where the investor can pour in capital without even considering a second thought. His exact words read,
On this basis we can offer central services along the value chain for digital assets, all under one roof. Investors and market participants know that Boerse Stuttgart Group stands for quality, transparency and reliability. As a Germany-based provider we want to transpose this standard into the digital world. We will help to promote acceptance of digital assets.
BISON, was not just coined out of the blue to turn up seemingly out of nowhere and start serving the crypto-market rather it was a continuous demand of crypto-enthusiasts to be provided with a reliable an lesser complex means to deal in cryptocurrencies that ensures them the safest transactions possible. Höptner further states,
At the trading venue tokens issued via our ICO platform can be traded on the secondary market. This is an important success factor for ICOs. At the same time we are responding to demand from both retail and institutional investors for a regulated and reliable environment for trading with cryptocurrencies.
Höptner is of the view that though we ought to compete with the extreme competition that lurks every corner of a business, we seek to cooperate with the sheer competition in order to come up with the perfect network which not only tends to diminish negative competition but can allow the user to discover new possibilities. Hi remarks read,
In designing the strategic projects we closely cooperate with all competent boards and committees, and especially with the supervisory authorities.
The crypto-market tends to move a step closer to cleansing the dealings of the scams and the risks associated but that does take a toll over the cryptocurrency statistics too as right after ICE announced its market, Bakkt, bitcoin went down the monetary charts. Major speculations circle around that the influence of Stock Exchanges and most specifically The Wall Street can indirectly lesser the cryptocurrency value causing major depreciation. The Street corporate tend to claim much of the finance out of the blue with some pure corporate reasons that can devalue cryptocurrency as we have seen prior this week.
Inclusion of major authorities into the crypto-mix is surely a good omen for the crypto-fan base but the underlying facts do shed light over the authorities gaining entire control over the system that can hang the decentralization ideology out to dry and turn warped.