According to reports, Switzerland’s largest online bank Swissquote is launching its own cryptocurrency trading platform. The company believes that there is a high demand for cryptocurrency transactions. “Our compliance and customer service teams are almost overwhelmed by the cryptocurrency boom.”

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

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

Swissquote Chief Sales and Marketing Officer Jan De Schepper told Finews.asia publications that his company plans to open its own cryptocurrency exchange before the end of the first half of 2022. Swissquote hopes to become “Switzerland’s leading provider of digital assets,” he said, adding:

We hope to realize more various cryptocurrency transactions on the platform.

The company also plans to add stablecoins and mortgage services to its list of cryptocurrency products.

The Swiss bank currently supports 24 cryptocurrencies: Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, chainlink, Ethereum Classic, EOS, Stellar, tezos, augur, ox, cardano, uniswap, aave, cosmos, algorithm, filecoin, maker, compound, year.finance, dogecoin, polkadot and solana.

In response to the surge in demand for cryptocurrencies last spring, Swissquote began to expand its workforce and will continue to recruit to promote further expansion. De Schepper affirmed:

Our compliance and customer service teams are almost overwhelmed by the cryptocurrency boom.

In the first half of 2021, the company’s net income from cryptocurrency investments increased by more than 1,000% to 63.2 million Swiss francs.

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