Swissquote to Launch Its Own Crypto Exchange

The largest online bank, Swissquote is about to Launch Its Own Crypto Exchange. Let us learn all about this news.

Introduction

Banks all over the world are jumping on the Crypto train. The fear of missing out or FOMO is not limited to individuals it goes well with big organisations too. Consequently, one such organisation has hit the news. The bank in question, that has embraced Cryptocurrencies is Swissquote. Swissquote is the largest online bank in Switzerland. Earlier, on Monday Swissquote made it public that it has decided to launch its own Crypto Exchange.

The company sees a huge demand for trading in Cryptocurrency. Additionally, an official from the bank revealed that the company aims to open a crypto exchange on the first of 2022. The official also talked about the company’s desire to be the “leading provider of digital assets”.

What are thier Plans?

The company has planned to introduce Stablecoins in its exchange. They also plan to add staking services to the exchange as well.

Currently, Swissquote currently supports 24 cryptocurrencies: BTC, ETH, LTC, XRP, BCH, LINK, ETC, EOS, stellar, tezos, augur, ox, Cardano, uniswap, aave, cosmos, algorand, filecoin, maker, compound, year.finance, DOGE, DOT, and SOL.

Cryptocurrencies and Profits

The company has already made quite some profits with the help of Cryptocurrencies. Swissquote’s net income from crypto investments saw an increment of about 1000 per cent in the first half of 2021.

The company has planned to expand its business and is rapidly growing. The workforce has also seen an expansion phase. The company is expected to grow with the increasing demand for Cryptocurrencies.

Conclusion

Big players from Switzerland betting on cryptocurrencies will further propel cryptocurrency’s meteoric rise. Hopefully, in the near future, we could see more such banks siding with cryptocurrencies instead of avoiding them.

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