Swissquote, the leading Swiss bank in electronic banking and digital assets, has announced the launch of its own cryptocurrency trading platform SQX, which enhances the customer experience in the areas of trading, liquidity and transaction execution.
Commenting on the matter, Mark Burke, CEO of Swissquote Bank, said: “Swissquote is at the forefront of innovation efforts, as it was one of the first institutions in Europe to be granted a banking license to provide a cryptocurrency trading service. Greater liquidity for our clients and faster transaction execution. SQX is increasing the competitiveness in providing trading and digital money custody services to other banks and brokers.”
The new platform from Swissquote greatly improves the user experience. The currency and cryptocurrency markets have a decentralized business model, but the global currency markets operate on the basis of long-standing bilateral relationships. On the other hand, the cryptocurrency markets have evolved to operate according to networks of cryptocurrency exchanges, and therefore the new central order book from the SQX platform is the ideal solution to obtain the best cases of liquidity from these markets, as it works to provide liquidity from several large providers, and this leads to an increase in price competitiveness. Supply and demand within a secure trading environment available around the clock.
Bancor Network (BNT) will be available on the SQX platform at this initial stage, while other cryptocurrencies offered by Swissquote will be gradually added to the platform, as any modification is made in Swissquote’s proprietary trading platform.