Saxo Bank Arm Launches Trading of BTC, ETH, LTC Against Major Currencies

The offering from Saxo Markets will be available initially to clients in Singapore and Australia.

AccessTimeIconMay 18, 2021 at 10:00 p.m. UTC
Updated Sep 14, 2021 at 12:57 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Saxo Markets, the digital investing subsidiary of Danish bank Saxo, has launched a service enabling trading of three top cryptocurrencies in FX pairs.

  • The offering matches bitcoin, ether and litecoin against the euro, U.S. dollar and Japanese yen, initially for Saxo Markets’ clients in Singapore and Australia.
  • Rollout to other key markets will follow in the coming weeks, a Saxo Markets spokesperson told CoinDesk. 
  • The news marks Saxo Markets’ first new crypto offering since 2017 when it launched exchange-traded notes (ETNs) tracking bitcoin and ethereum.
  • The new offering is designed to complement the company’s existing range of crypto trackers and ETNs, according to Saxo’s emailed announcement Tuesday.
  • The cryptocurrency traded will be in the form of derivatives rather than the actual coins. 
  • Retail clients will be able to trade on 60% margin with accredited investors trading on 40% or 50%.

Disclosure

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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


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.