Bitstamp and Swissquote Pioneer Bitcoin Integration with the Traditional Financial System
Luxembourg, Zürich, 14 July 2017: Swissquote, the Swiss leader in online banking, which specialises in providing online financial and trading services and Bitstamp, the EU’s first and only licensed digital currency exchange, today announced that they will be partnering up. Swissquote will commence with BTC trading with EUR and USD on its platform, with Bitstamp providing a full-stack solution for all of Swissquote’s requirements.
This partnership between Bitstamp and Swissquote represents an important step forward in the integration of the traditional financial and bitcoin worlds, harnessing their synergies to the benefit of the end user. Swissquote will introduce bitcoin trading for its customers, and Bitstamp’s role will be to provide a full-stack solution for Swissquote’s needs. This is just the latest in a series of indicators that traditional financial institutions are recognising bitcoin’s potential and that they need reliable and regulated partners to work with.
Swissquote customers are able to trade BTC/EUR and BTC/USD as of today. In the future, both companies plan to expand their partnership as Bitstamp brings Swissquote’s range of services closer to its customers. This news is a key development for the Bitcoin industry since it paves the way for traditional financial institutions to participate, but without compromising on regulation, transparency and trust.
Bitstamp CEO, Nejc Kodrič, was upbeat about the relationship’s vast potential: “Our partnership with Swissquote represents a leap forward in terms of integrating bitcoin with the traditional financial industry,” he explained. “We are honoured to be working with such a prominent player. Our efforts to encourage compliant bitcoin trading continue to bear fruit, giving users greater confidence and strengthening the bitcoin industry generally. And the strong potential shown by digital currencies in their relatively short history has led to traditional financial markets looking for ways to get involved. That’s why we’re so excited about our partnership with Swissquote.”
“This is our first foray into the world of bitcoin,” explained Swissquote CEO, Marc Bürki, “and so we wanted to work with a partner we could rely on. Bitstamp’s focus on regulation and compliance, as well as its payment institution licence, made it the standout choice for our needs.”
Founded in 2011, Luxembourg-based Bitstamp is a leading global digital currency exchange and the largest Bitcoin exchange in the EU in terms of volume. Currently offering trading between BTC, XRP, LTC, USD and EUR, further trading pairs and products will be launched in the forthcoming months. Not only was Bitstamp the first bitcoin exchange to implement hot/cold storage and the high-security multisig wallet, it was also the first and only exchange to become nationally licensed in all 28 EU member states. Bitstamp’s objective is to continue being an easy-to-use and reliable one-stop shop for cryptocurrency trading in a fully compliant and regulated environment. www.bitstamp.net
Swissquote – The Swiss Leader in Online Banking
As a leading provider of online financial services, Swissquote offers innovative solutions and analysis tools to meet the wide range of demands and needs of its clients. As well as various online trading services, the user-friendly platform also provides solutions for eForex, ePrivate Banking and eMortgage. In addition to a low-cost service for private clients, Swissquote also offers specialized services for independent asset managers and corporate clients. Swissquote Bank Ltd holds a banking licence issued by its supervisory authority the Swiss Federal Financial Market Supervisory Authority (FINMA) and is a member of the Swiss Bankers Association. Its mother company, Swissquote Group Holding Ltd, is listed on the SIX Swiss Exchange (symbol: SQN).