Boerse Stuttgart Digital Exchange (BSDEX) has launched a mobile app for trading Bitcoin, Ethereum, Litecoin and XRP (Ripple) available on iOS and Android devices.
The mobile app allows users to view their crypto holdings, access basic and professional order types when trading Bitcoin, Ethereum, Litecoin, and XRP (Ripple), and track the current charts of the cryptocurrencies.
BSDEX had first launched a mobile app, BISON, in early 2019 with a focus on the retail segment. Now, the plan is to target institutional clients such as fintechs, banks, and asset managers through blocknox.
The Germany’s first regulated trading venue for digital assets operates as a multilateral trading facility by Baden-Wuerttembergische Wertpapierbörse GmbH, which also is the operating company for the public stock exchange in Stuttgart.
The exchange boasts more than 20,000 users who trade or hold the four available cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Ripple (XRP). Access is 24/7 as in other crypto exchanges.
Maximilian von Wallenberg, CEO of Boerse Stuttgart Digital Exchange, said: “With the new mobile app for iOS and Android, our customers can now trade conveniently from their smartphones. We see huge customer demand for a reliable and transparent German trading venue for Bitcoin, Ethereum, and Co. This is also reflected by the trading volume on BSDEX, which has now exceeded 1 billion euros since our market entry.”
EUWAX AG, a subsidiary of Boerse Stuttgart GmbH, Bankhaus Scheich, and Crypto Broker AG – which was added as LP a few weeks ago -are three institutional participants connected to BSDEX and act as liquidity providers, helping to determine buying and selling prices.
The exchange’s open order books provide information about existing orders and the current market situation. BSDEX charges transaction fees based on the type of order.
blocknox GmbH, another subsidiary of Boerse Stuttgart Digital Ventures GmbH, acts as the custody of cryptocurrencies for investors on an escrow basis.