Cryptocurrencies have gained a lot of attention all over the world since the start of 2020, and even though there has been a dip in the market recently, demand for various tokens continues to be very strong. One of the biggest factors behind this crypto rally has been the willingness of banks and financial institutions to work with crypto and incorporate cryptocurrencies into their operations, and this is bringing crypto and digital assets into the mainstream financial markets. Access to cryptocurrencies is also improving as a result, with the latest news that the Boerse Stuttgart Digital Exchange (BSDEX) is launching a mobile app being quite encouraging as well.

The exchange is Germany’s first regulated trading exchange for cryptocurrencies, and has the same operator as the Boerse Stuttgart stock exchange, which is the second largest in the country. The launch of this app will provide investors with a regulated mobile trading exchange, while Germans had access to another app previously, called Bison, which was launched in 2019. This app will allow investors to be able to trade in Bitcoin, Litecoin, Ether and XRP. Demand for crypto in Germany can be seen by the fact that the exchange has over 20,000 users, and has crossed 1 billion euros in trading volumes since its launch in 2019.

This reflects another growing trend in the crypto market – that of using mobiles as a way to increase penetration and engagement. Several industries are using mobiles in conjunction with crypto assets to increase investment opportunities and improve the customer experience, and one of the best examples of this is the online gambling industry. Since last year, more and more online casinos have begun adopting blockchain technology and cryptocurrencies, offering players the option of placing their bets via crypto and therefore playing ETH games, among others. At the same time, most of these operators also have strong mobile apps and platforms, and there are many users who use these to play and place their bets. Mobile engagement is increasing in the financial space as well, with people using their phones to invest in the stock market, and therefore a mobile app that can allow crypto trading and investment is sure to be enthusiastically welcomed, especially one that is launched by a regulated exchange. There is already a precedent for this, with the Coinbase app in the United States becoming the most popular app on the Apple App Store in the country, ahead of the likes of Facebook, Instagram, Tik Tok and even the stock trading app Robinhood.

Users will be able to use this app in the same way as they use the BSDEX desktop version – to view and track their crypto portfolios, look at crypto prices in the market, access charts and other tools, and use basic and advanced order options to carry out transactions. In terms of support and regulations, a subsidiary of the exchange, Blocknox GmbH, provides custody services for customer assets on an escrow basis, while the exchange charges transaction fees based on the order placed by customers. It also has three institutional partners providing liquidity – Boerse Stuttgart GmbH subsidiary EUWAX AG, Bankhaus Scheich and Crypto Broker AG. The exchange itself is operated by Baden-Württembergische Wertpapierbörse GmbH — the same operator that runs Stuttgart’s public stock exchange

The huge demand for a regulated crypto exchange in Germany was solved by the creation of the BSDEX back in 2019, and it is hoped that their launch of a mobile app will help serve the demand for mobile crypto trading and investment portals as well, as crypto continues to grow in popularity in 2021.