Swissquote launches its own crypto exchange: SQX

Media information

Gland/Zurich, 3 October 2022

Swissquote launches its own crypto exchange: SQX

With SQX, Swissquote is launching its own centralised trading platform for cryptocurrencies to provide a more competitive and secure trading environment.

Swissquote, the Swiss leader in online banking and Swiss pioneer in digital assets, is launching its own crypto exchange. SQX makes for a significantly enhanced customer experience in the areas of trading, execution and liquidity.

"Swissquote is at the forefront of innovation and was one of the first institutions in Europe with a banking license to offer cryptocurrency trading. The launch of our own crypto exchange is an important step forward in offering our customers deeper liquidity and faster execution," says Marc Bürki, CEO of Swissquote. "In terms of services for institutional clients, SQX also represents an increase in competitiveness when it comes to offering trading and custody services to other banks and brokers."

With the introduction of its own crypto exchange, Swissquote is greatly improving the customer experience. While both currency and crypto markets are organised in a decentralised fashion, currency markets function on the back of long-standing bilateral relationships. The crypto markets, in contrast, have evolved into a network of exchanges. As such, the ideal solution to source the best liquidity conditions from these markets is SQX's new central order book, which sources and aggregates liquidity from different liquidity hubs. This results in more competitive bid and ask prices than before - and all within a secure trading environment, available 24/7.

In the initial phase, Bancor Network (BNT) will be available on SQX. Other cryptocurrencies available at Swissquote will be gradually added to SQX. Clients will not see any changes to the front end of the Swissquote trading platform.

For more information:www.swissquote.com/crypto.

Swissquote - The Swiss Leader in Online Banking

Swissquote is Switzerland's market leader in online banking. Over three million financial products can be traded on its innovative platforms. Swissquote's core competencies include global stock market trading, trading and custody of crypto assets, Forex trading and a Robo-Advisor solution. In addition, Swissquote is active in the payment card, mortgage and leasing markets. As at the end of June 2022, Swissquote held over 50 billion Swiss francs in assets for more than 520,000 private and institutional clients. In addition to its headquarters in Gland, Switzerland, Swissquote has offices in Zurich, London, Luxembourg, Malta, Bucharest, Dubai, Singapore and Hong Kong. Swissquote holds banking licenses both in Switzerland (FINMA) and Luxembourg (CSSF). The parent company, Swissquote Group Holding Ltd, is listed on the SIX Swiss Exchange (symbol: SQN). The Swissquote Group and PostFinance each own 50 percent of the fintech app Yuh Ltd.

For further information

Nadja Keller, Assistant to CEO / Media Relations Manager

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