Switzerland’s Largest Online Bank Swissquote to Launch Its Own Crypto Exchange

Switzerland’s largest online bank, Swissquote, is reportedly launching its own cryptocurrency trading platform. The company sees high demand for cryptocurrency trading. “Our compliance and customer service teams were almost overrun by the crypto rush.”

Switzerland’s Largest Online Bank to Launch Its Own Cryptocurrency Trading Platform

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

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

We want to enable 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 cryptocurrencies: 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 expanding its workforce in response to the surging demand for cryptocurrencies last spring and will continue hiring to fuel further expansion, De Schepper affirmed, elaborating:

Our compliance and customer service teams were almost overrun by the crypto rush.

The company’s net income from crypto investments increased by over 1,000% to 63.2 million Swiss francs in the first half of 2021.

What do you think about Swissquote launching its own cryptocurrency exchange? Let us know in the comments section below.

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