The volume of cryptocurrency trading on the app provided by Germany’s second largest stock exchange, Stuttgart (Boerse Stuttgart) hit a record high. So far this year, 1 billion euros of cryptocurrency have been traded on the exchange’s crypto trading application Bison.

1 billion euros in cryptocurrency trading volume

The Boerse Stuttgart Stock Exchange (Boerse Stuttgart), Germany’s second largest stock exchange, announced on Monday that its cryptocurrency trading application Bison has had a total trading volume of 1 billion euros (over 1.2 billion US dollars) so far this year.

The cryptocurrency trading volume of Bison also reached a record high in November, exceeding 35 million euros. During the same period, the number of active users of the Bison app also increased by 180% to 206,000.

“In this year, the number of users and transaction volume of Bison has increased far beyond our expectations,” said Ulli Spankowski, CEO of Sowa Labs GmbH, a subsidiary of Boerse Stuttgart Digital Ventures GmbH, which developed the Bison app. He added:

The positive development shows that, through simple and reliable transactions, we are providing correct quotes in the exciting cryptocurrency market environment.

The announcement details that using Boerse Stuttgart’s Bison app, users “can trade Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple (XRP) for free using the prices displayed in the app.”

Boerse Stuttgart also operates a regulated cryptocurrency exchange called BSDEX (Exchange Stuttgart Digital Exchange). The company explained: “BSDEX complies with the regulatory requirements of Article 2 Section 12 of the German Banking Act (Kreditwesengesetz).” Customers can use the exchange to buy and sell Bitcoin, Litecoin, Ethereum and XRP.

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Picture Credits: Shutterstock, Pixabay, Wiki Commons, Borse Stuttgart

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