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

Switzerland’s largest online bank, Swissquote, is launching its own cryptocurrency trading platform. The company is seeing strong demand for cryptocurrency trading. “Our customer service and compliance teams were almost overrun with encryption.”

Switzerland’s largest online bank launches its own cryptocurrency trading platform

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

Jan De Schepper, director of sales and marketing at Swissquote, told Finews.asia that his company plans to open its own cryptocurrency exchange before the end of the first half of 2022. Swissquote wants to become “Switzerland’s leading supplier of ‘digital assets’. He said. 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 cryptocurrencies: bitcoin, ethereum, litecoin, XRP, bitcoin cash, chainlink, ethereum classic, EOS, stellar, tezos, augur, ox, cardan, uniswap, aave, cosmos, algorand, filecoin, maker, composite, year.finance, dogecoin, polkadot and solana.

Swissquote began ramping up its workforce in response to growing demand for cryptocurrency last spring and will continue to hire to spur the expansion, De Schepper said, explaining:

Our customer service and compliance teams were almost overrun with encryption.

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.