Swissquote, Switzerland’s largest online bank, to launch its own crypto exchange

Switzerland’s largest online bank, Swissquote, is reportedly launching its own cryptocurrency trading platform. The company is seeing strong demand for cryptocurrency trading. “Our compliance and customer service teams have been almost overwhelmed by the crypto rush.”

Switzerland’s largest online bank to launch its own cryptocurrency trading platform

Switzerland’s largest online bank, Swissquote, is reportedly preparing to launch its own cryptocurrency trading platform.

Jan De Schepper, director of sales and marketing at Swissquote, told the publication Finews.asia that his company plans to open its own crypto exchange before the end of the first half of 2022. Swissquote wants to become “the main Swiss supplier of” digital assets, ”he said, adding:

We want to allow more trading in various cryptocurrencies on the platform.

The company also plans to add stablecoins and staking services to its list of cryptocurrency offerings.

The Swiss bank currently supports 24 crypto-currencies: bitcoin, ethereum, litecoin, XRP, bitcoin cash, chainlink, ethereum classic, EOS, stellar, tezos, augur, ox, cardano, uniswap, aave, cosmos, algorand, filecoin, maker, compound, year.finance, dogecoin, polkadot and solana.

Swissquote began ramping up its workforce in response to growing demand for cryptocurrencies last spring and will continue to hire to fuel further expansion, De Schepper said, adding:

Our compliance and customer service teams have been nearly overwhelmed by the crypto rush.

The company’s net income from crypto investments increased by more than 1000% to reach 63.2 million Swiss francs in the first half of 2021.

What do you think of the launch of its own cryptocurrency exchange by Swissquote? Let us know in the comments section below.

Kevin helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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