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Swissquote launches unleveraged Bitcoin trading with Bitstamp

 Swissquote, the forex brokerage brand of Swissquote Bank, has teamed up with the Luxembourg-based licensed digital currency exchange Bitstamp to offer trading in Bitcoin pairs with EUR and USD on its platform.


According to the official statement, the role of Bitstamp in the partnership will be the provision of a full-stack solution for Swissquote's needs.


Swissquote clients can trade bitcoin from July 14 through their accounts, just like any other currency. The only difference is that the broker does not offer leverage on bitcoin trading. The minimum transaction is set at USD/EUR 5 and the maximum - USD/EUR 100 000. Fees are set as a percentage of the transaction amount and range from 0.5% to 1%, depending on the size of transaction.


"This is our first foray into the world of bitcoin," said Swissquote CEO, Marc Burki, "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."


According to Burki, many investors are interested in Bitcoin and other digital currencies, but are afraid to trade them, because most players on the market are little known and are not properly regulated and require foreign transfers. “As a Swiss bank, we offer our clients a simplified transparent process, without foreign transfers, that is within reach of everybody”, Burki noted.


"Our partnership with Swissquote represents a leap forward in terms of integrating bitcoin with the traditional financial industry," noted Bitstamp CEO, Nejc Kodric.


Swissquote and Bitstamp are planning to expand their cooperation and offer more services in the future.


Swissquote becomes the latest forex broker to add bitcoin trading to its portfolio.

 

 

TAGS: swissquote  bitstamp  bitcoin 

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