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Online Bank Swissquote Partners With Bitstamp to Launch Bitcoin Trading

Online banking service Swissquote is launching a new bitcoin trading feature in partnership with digital currency exchange BitStamp.

Jul 14, 2017 at 4:25 p.m. UTC
Updated Sep 11, 2021 at 1:32 p.m. UTC

Online banking service Swissquote is launching a new bitcoin trading feature in partnership with digital currency exchange Bitstamp.

With the integration, Swissquote customers will be able to exchange bitcoin for euros and US dollars, and vice versa, through their accounts. Bitstamp will provide the technical know-how and backend support, according to today's announcement.

Swissquote, founded in 1999, is regulated by the Swiss Financial Market Supervisory Authority, from which it has a banking license. It offers online access to financial products like bonds, options and futures, as well as credit card and savings account services.

Swissquote CEO Marc Bürki said in a statement:

"This is our first foray into the world of bitcoin, 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 [license], made it the standout choice for our needs."

The collaboration represents yet another another traditional financial service launching a new bitcoin-related offering.

Earlier this week, Swiss private bank Falcon announced a partnership with Bitcoin Sussie AG, providing its high-net worth individual and institutional investors with the ability to exchange and hold bitcoin.

Trading screen image via Shutterstock

DISCLOSURE

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