Switzerland’s largest online bank ready to launch crypto exchange
- Swissquote, Switzerland's online bank, is on track to open its cryptocurrency exchange before the end of the first half of 2022.
- The bank has revealed that compliance and customer service teams are overrun with the crypto rush.
- Banks in Germany are considering introducing crypto services for customers in 2022.
Swissquote is working on realizing its crypto ambitions, setting up a cryptocurrency exchange in 2022. The bank is keen on facilitating trade in various cryptocurrencies on its platform.
Swissquote rides the crypto wave
Banks in Europe are exploring the addition of cryptocurrency offerings to their suite of products and services. Swissquote, considered Switzerland's most prominent online bank, recently revealed its plans to launch a cryptocurrency exchange platform.
Two weeks ago, Marc Buerki, founder and CEO of the bank, told Finews Asia that traditional banks have panicked at times, and those who are now offering cryptocurrencies to customers are late to the party.
Jan De Schepper, sales manager at Swissquote, revealed that the bank is currently working towards setting up its exchange platform.
The cryptocurrency exchange will be ready for launch in the first half of 2022.
Schepper said,
We want to enable 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 tokenized small caps and cryptocurrencies to meet the rising demand.
Germany's savings banks are currently considering the introduction of a crypto wall that customers can use to trade Bitcoins or other cryptocurrencies. The intention is to allow customers to buy cryptocurrencies directly from their savings accounts.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
