Swissquote, a Switzerland-based online banking service, has partnered with leading European digital currency exchange Bitstamp as it introduces bitcoin trading for its customers.
According to the official release, Swissquote will commence with BTC trading with EUR and USD on its platform, with Bitstamp providing a full-stack solution for all of its requirements. The partnership represents a major step forward in the integration of the traditional financial and the emerging digital currency worlds. Swissquote has launched BTC/EUR and BTC/USD trading on its platform last week.
"This is our first foray into the world of bitcoin," explained Swissquote CEO, Marc Bürki, "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 licence, made it the standout choice for our needs."
In the future, the companies plan to expand their partnership as Bitstamp brings Swissquote's range of services closer to its customers.
"Our partnership with Swissquote represents a leap forward in terms of integrating bitcoin with the traditional financial industry," Bitstamp CEO, Nejc Kodrič said. "We are honoured to be working with such a prominent player. Our efforts to encourage compliant bitcoin trading continue to bear fruit, giving users greater confidence and strengthening the bitcoin industry generally. And the strong potential shown by digital currencies in their relatively short history has led to traditional financial markets looking for ways to get involved. That's why we're so excited about our partnership with Swissquote."
Swissquote Bank Ltd holds a banking license issued by its supervisory authority the Swiss Federal Financial Market Supervisory Authority (FINMA) and is a member of the Swiss Bankers Association.
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