The new app - dubbed Bison - has been developed by Boerse Stuttgart subsidiary company Sowa Labs.

The app has been designed to break down the barriers to cryptocurrency trading that have deterred many potential investors, combining fast set up and ID checks with an AI-based news filter to provide a real-time view of market activity, social media sentiment and news.

Ulli Spankowski, CEO of Sowa Labs, says: “Bison is the first cryptocurrency trading app from a provider in Germany. It enables free-of-charge trading in Bitcoin, Ethereum, Litecoin and Ripple (XRP). Users can trade on Bison from 6.00 to 24.00 hours (CET) Monday to Sunday at the prices they find displayed in the app. Bison makes its money from the spread between the buying and selling prices displayed."

Users do not need to set up a crypto wallet to begin trading as blocknox, another subsidiary of the German exchange's digital ventures unit, takes care of the custody of the acquired cryptocurrencies on an escrow basis.

As an external banking partner, solarisBank is responsible for payment processing and the custody of customers’ cash deposits in Euro.

Additional functions will gradually be added to Bison over time says Spankowski “These will include the extension of trading to 24 hours a day, seven days a week, and additional trading functionalities," he says. ". We will also enable trading in further cryptocurrencies, which will be selected considering criteria such as market capitalisation, customer interest and whether they can be kept in safe custody.”

Currently only available in Germany, the app will shipped to other EU countries during 2019, he adds.