July 14, 2017
Bitstamp, Swissquote pioneer bitcoin integration within the traditional financial system
LUXEMBOURG -- Swissquote, the Swiss leader in online banking that specializes in providing online financial and trading services and Bitstamp, the EU’s first and only licensed digital currency exchange, today announced that they will be partnering up. Swissquote will commence with BTC trading with EUR and USD on its platform, with Bitstamp providing a full-stack solution for all of Swissquote’s requirements.
This partnership between Bitstamp and Swissquote represents an important step forward in the integration of the traditional financial and bitcoin worlds, harnessing their synergies to the benefit of the end user. Swissquote will introduce bitcoin trading for its customers, and Bitstamp’s role will be to provide a full-stack solution for Swissquote’s needs. This is just the latest in a series of indicators that traditional financial institutions are recognising bitcoin’s potential and that they need reliable and regulated partners to work with.
Swissquote customers are able to trade BTC/EUR and BTC/USD as of today. In the future, both companies plan to expand their partnership as Bitstamp brings Swissquote’s range of services closer to its customers. This news is a key development for the Bitcoin industry since it paves the way for traditional financial institutions to participate, but without compromising on regulation, transparency and trust.
“Our partnership with Swissquote represents a leap forward in terms of integrating bitcoin with the traditional financial industry,” explained Nejc Kodrič, CEO of Bitstamp. “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.”
“This is our first foray into the world of bitcoin,” explained Marc Bürki, Swissquote's CEO, “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.”