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.

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

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Wolfie Zhao

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.