Switzerland’s largest online bank ready to launch crypto exchange

  • Swissquote, the Swiss online bank, is set to open its cryptocurrency exchange before the end of the first half of 2022.
  • The bank revealed that the compliance and customer service teams are overwhelmed by the crypto rush.
  • German banks plan to introduce crypto services for customers in 2022.

Swissquote is working towards realizing its crypto ambitions, setting up a cryptocurrency exchange in 2022. The bank wants to facilitate the trade of various cryptocurrencies on its platform.

Swissquote is riding the crypto wave

Banks in Europe are exploring adding cryptocurrency offerings to their range of products and services. Swissquote, considered the most important online bank in Switzerland, recently revealed its intention to launch a cryptocurrency exchange platform.

Two weeks ago, Marc Buerki, founder and CEO of the bank, told Finews Asia that traditional banks have sometimes panicked and those who now offer cryptocurrencies to customers are late to the party.

Jan De Schepper, Sales Director at Swissquote, revealed that the bank is currently working on setting up its exchange platform.

The cryptocurrency exchange will be ready to launch in the first half of 2022.

Schepper said,

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

The bank aims to be the leading provider of digital assets in Switzerland. In order to lead the crypto industry in the country, Swissquote aims to expand its cryptocurrency offering and include stablecoin and staking services.

The demand for cryptocurrencies is on the rise in Switzerland. The Swiss Stock Exchange launched a fully licensed cryptocurrency exchange, SDX, a few weeks ago. Since then, several banks have launched platforms offering small caps and tokenized cryptocurrencies to meet growing demand.

German savings banks are currently considering the introduction of a crypto wall that customers can use to trade Bitcoin or other cryptocurrencies. The intention is to allow customers to buy cryptocurrency directly from their savings accounts.

Source link

David A. Albanese