“SQX additionally represents a rise in competitiveness in relation to providing buying and selling and custody providers to different banks and brokers.”
Swissquote has introduced the launch of its personal crypto change: SQX, a centralised buying and selling platform for cryptocurrencies meant to considerably improve buyer expertise within the areas of buying and selling, execution and liquidity.
The FINMA-regulated on-line buying and selling agency is specialised in each FX and crypto, and whereas each forex and crypto markets are organised in a decentralised trend, forex markets operate on the again of long-standing bilateral relationships. The crypto markets, in distinction, have developed right into a community of exchanges.
That’s why Swissquote argues that the perfect answer to supply one of the best liquidity situations from the cryptocurrency markets is SQX’s new central order ebook, which sources and aggregates liquidity from completely different liquidity hubs, ensuing in additional aggressive bid and ask costs than earlier than – and all inside a safe buying and selling atmosphere, out there 24/7.
SQX additionally gives buying and selling and custody providers to different banks and brokers
Marc Bürki, CEO of Swissquote, mentioned: “Swissquote is on the forefront of innovation and was one of many first establishments in Europe
with a banking license to supply cryptocurrency buying and selling. The launch of our personal crypto change is a vital step ahead in providing our prospects deeper liquidity and quicker execution. When it comes to providers for institutional purchasers, SQX additionally represents a rise in competitiveness in relation to providing buying and selling and custody providers to different banks and brokers.”
Within the preliminary part, Bancor Community (BNT) might be out there on SQX. Different cryptocurrencies out there at Swissquote might be regularly added to SQX. Purchasers won’t see any adjustments to the entrance finish of the Swissquote buying and selling platform.
Swissquote’s core competencies embody international inventory market buying and selling, buying and selling and custody of crypto property, Foreign currency trading and a Robo-Advisor answer.
As on the finish of June 2022, Swissquote held over 50 billion Swiss francs in property for greater than 520,000 personal and institutional purchasers. Along with its headquarters in Gland, Switzerland, Swissquote has workplaces in Zurich, London, Luxembourg, Malta, Bucharest, Dubai, Singapore and Hong Kong.
Swissquote holds banking licenses each in Switzerland (FINMA) and Luxembourg (CSSF). The guardian firm, Swissquote Group Holding
Ltd, is listed on the SIX Swiss Alternate (image: SQN).