FINMA-regulated Swissquote launches crypto exchange, SQX

Swissquote has announced the launch of its own crypto exchange: SQX, a centralised trading platform for cryptocurrencies meant to significantly enhance customer experience in the areas of trading, execution and liquidity.

The FINMA-regulated online trading firm is specialized in both FX and crypto, and 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.

That’s why Swissquote argues that the ideal solution to source the best liquidity conditions from the cryptocurrency markets is SQX’s new central order book, which sources and aggregates liquidity from different liquidity hubs, resulting in more competitive bid and ask prices than before – and all within a secure trading environment, available 24/7.

SQX also offers trading and custody services to other banks and brokers

Marc Bürki, CEO of Swissquote, said: “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. 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.”

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.

Swissquote’s core competencies include global stock market trading, trading and custody of crypto assets, Forex trading and a Robo-Advisor solution.

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).