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Boerse is a Dutch word. Stuttgart Digital Exchange, Germany’s first legal crypto asset trading platform, has created a mobile trading software for iOS and Android that supports four cryptocurrencies.
The Boerse Stuttgart Digital Exchange, or BSDEX, which shares its operator with Stuttgart’s biggest public stock exchange, is launching a new mobile app for cryptocurrency dealers.
The venue has been a pioneer in the mainstreaming of crypto in Germany as a digital assets trading venue that meets the regulatory standards of the German Banking Act. Investors previously had access to Bison, an older cryptocurrency trading software that debuted in 2019. According to the release of a new app today, users will be able to trade Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and XRP.
BSDEX is now used by over 20,000 people and is administered by Baden-Wuerttembergische Wertpapierborse GmbH, the same company that handles Stuttgart’s public stock exchange. Three institutional participants serve as liquidity providers for the fully regulated exchange: Boerse Stuttgart GmbH subsidiary EUWAX AG, Bankhaus Scheich, and Crypto Broker AG.
In terms of custody agreements, Blocknox GmbH, a subsidiary of Boerse Stuttgart Digital Ventures GmbH, holds BSDEX client assets in escrow. When it comes to trading, the venue levies costs that vary depending on the type of order.
According to Maximilian von Wallenberg, CEO of BSDEX’s technical operator, Boerse Stuttgart Digital Exchange GmbH, the decision to provide a quick trading alternative for smartphone users was made in response to the demands of investors:
“We see a 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.”
The app, like the desktop version, will allow users to examine their bitcoin holdings, follow cryptocurrency charts, and access basic and complex order types.
In the broader crypto app industry, prominent US-based exchange Coinbase recently passed a milestone by becoming the country’s most popular app on the Apple App Store, surpassing TikTok, YouTube, Facebook, Instagram, and trading app Robinhood.