SwissQuote Ready to Launch Its Own Crypto Exchange

Switzerland's largest online bank aim to become «the leading Swiss provider of digital assets».

Switzerland's largest online bank, SwissQuote, has said that it aims to launch its very own cryptocurrency exchange in the first half of 2022.

Its chief marketing officer, Jan De Schepper claimed that the bank plans to become a leading provider of digital assets and offer the possibility to trade in a wide variety of cryptocurrencies. 

The bank already supports 24 digital currencies in total, including some lesser known cryptos, such as Augur and Filecoin, an expansion that occurred as the bank’s “net income from crypto investments increased by over 1,000%” in the first half of last year, which amounted to 63.2 million Swiss francs. The company, moreover, also plans to add stablecoins and staking services to its list of cryptocurrency offerings.

Reports from the bank stated that its compliance and customer service teams were overrun by interest in digital assets since last spring. This has therefore led SwissQuote to begin an expansion of their workforce due to the surge in demand, an effort that De Schepper hopes will “fuel further expansion”.