Swissquote, a cryptocurrency brokerage, confirms the European Union’s expansion plans.
Swissquote, a publicly traded online financial institution and dealer, recently disclosed to Finance Magnates its future expansion intentions in Europe, outlining plans for both CFDs and crypto markets.
According to the company, it should swiftly provide a comprehensive Single Inventory CFD offering, thereby expanding its current brokerage services. It also intends to expand its alternatives by expanding the capabilities of its own Superior Dealer Platform, which employs Buying and Selling View charting capabilities.
The dealer’s big goals, on the other hand, are for the burgeoning crypto marketplaces.
Swissquote has been providing cryptocurrency buying and selling for years, and it is now expanding its offerings with the addition of crypto staking and lending. It did not, however, provide any dates for the launch of the brand new crypto products.
The Swiss company has already begun model advertising in advance of the product range expansion. It recently agreed to sponsor two European soccer leagues, the UEFA Europa League and the UEFA Europa Convention League, for a three-year period with UEFA.
Modifications to the Structure
The Swiss group can even make some structural changes in its European retail companies as part of the enlargement plan.
Swissquote Financial institution Europe (Luxembourg) will concentrate its efforts within the European Union on fairness and crypto buying and selling, according to the company. Swissquote Ltd, based in London, will continue to be the hub of the group’s foreign currency and CFDs business development outside of the EU markets.
Swissquote already has a considerable global footprint, with offices in Luxembourg, the United Kingdom, the United Arab Emirates, Hong Kong, Singapore, and Malta. The group is now looking into ways to expand globally, as well as the possibility of adding new offices in Europe.
In the meantime, the company’s financials have been good for a number of quarters in a row. As previously reported by Finance Magnates, Swissquote’s web revenues increased by 64.5 percent in the first half of 2021, while pre-tax revenue increased by 130 percent in a year to CHF 134.6 million.