Dubai, United Arab Emirates, October 31, 2022: 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.
