Swissquote Group Holding SA, a Swiss banking group specializing in the provision of online financial and trading services, and Bitstamp, the EU’s first and only licensed digital currency exchange, announced in a press release CoinReport received initiation of bitcoin integration with traditional financial system through a partnership.
Swissquote will begin with bitcoin trading with EUR and USD for its customers on its platform, while Bitstamp will provide a full-stack solution for all of Swissquote’s requirements.
This partnership, said the release we received, signifies a vital step towards the integration of the bitcoin and traditional financial worlds, harnessing their synergies to the advantage of the end user.
Customers of Swissquote were able to trade BTC/EUR and BTC/USD from the day of the announcement. In the future, both firms intend to expand their association as Bitstamp brings Swissquote’s variety of services closer to its customers. This news, said the release, is important for the bitcoin industry, as it lays the first stone for conventional financial organizations to join, but without compromising on trust, regulation, and transparency.
“Our partnership with Swissquote represents a leap forward in terms of integrating bitcoin with the traditional financial industry,” said Bitstamp CEO Nejc Kodrič. “We are honoured to be working with such a prominent player. Our efforts to encourage compliant bitcoin trading continue to bear fruit, giving users greater confidence and strengthening the bitcoin industry generally. And the strong potential shown by digital currencies in their relatively short history has led to traditional financial markets looking for ways to get involved. That’s why we’re so excited about our partnership with Swissquote.”
Swissquote CEO Marc Bürki explained, “This is our first foray into the world of bitcoin. 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.”
Swissquote HQ – Via Image Gallery on Media Relations page of the banking group’s website
Bitstamp logo – Courtesy of Bitstamp via PR firm Uproar