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Swissquote expands crypto portfolio


20 Mar 2018

#XRP

Swissquote, the major Swiss financial online services provider and owner of the forex broker of the same name, announced it is launching the first multi-cryptocurrency certificate trade on the SIX Swiss Exchange.

The portfolio, called “Multi-Crypto Active Index” includes the highest trading volume and market capitalization cryptocurrencies: Bitcoin, Bitcoin Cash, Ether and Litecoin and allows mainstream investors to invest in them through a traditional financial vehicle traded on the exchange. Thus the investors are less exposed to the risk of holding investments in just one cryptocurrency.

“It is the next evolutionary step in our strategy of opening up the cryptocurrency market to the mainstream investor by creating investment opportunities that reduce volatility while offering the transparency that comes with the listing at the Swiss Exchange. This new portfolio is designed for investors who recognize the potential of cryptocurrencies but rather than taking the risk of investing in a single one, look for a structured product that is easy to trade and actively managed”, said Peter Rosenstreich, Head of Market Strategy at Swissquote.

In November last year Swissquote launched a similar exchange-traded index on Bitcoin and in December launched trading in Ether, Litecoin, Ripple and Bitcoin Cash. Earlier in 2017 the company became the first European bank to offer Bitcoin trading on its platform, in partnership with the cryptocurrency exchange Bitstamp.

Swissquote was founded back in 1996 and today it ranks among the top 10 online forex brokers in the world. It is a brand of Swissquote Bank Ltd., a recognised public bank regulated by the Swiss Financial Market Supervisory Authority (FINMA) and part of the International Swissquote Group. Swissquote Group Holding Ltd (SQN) is listed on the SIX Swiss Exchange.

In addition, the Swissquote Group has set up an UK subsidiary, Swissquote Ltd., which holds a FCA license and provides online forex, commodities and stock indices trading services for traders based in the European Union.


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