Leading Swiss online bank and financial services provider, Swissquote, has announced that it anticipates exceeding its financial forecasts, driven by a surge in demand for cryptocurrency trading and related services. The bank’s client assets grew 31% on year in 2024.
According to Swissquote, heightened interest in crypto trading during 2023 has significantly contributed to its performance.
The company’s early adoption of digital asset trading platforms has allowed it to cater to the increasing appetite for cryptocurrencies among retail and institutional investors alike.
Swissquote Expects Results To Beat Views on Crypto Demand https://t.co/1IxTXzO5CW
— WSJ Business News (@WSJbusiness) January 17, 2025
Explore: Swissquote’s Crypto Revenue Triples. Meanwhile, Swiss Authorities Invite Consultation On Crypto Tax
Swissquote Positioning Itself As A Leader In Crypto-Financial Services Sector
On 17 January 2025, the company stated that its pre-tax profit for the year is expected to surpass CHF 495 million ($548 million), comfortably exceeding previous market expectations. The bank’s net new money inflows totaled 8.3 billion Swiss francs last year.
The bank attributed the growth to not only to the popularity of cryptocurrencies but also to Swissquote’s diversified portfolio of financial services. By continuously expanding its crypto-related offerings, Swissquote managed to attract a broad customer base seeking secure and regulated access to the digital asset market.
As regulatory clarity around digital assets improves globally, institutions like Swissquote are well-placed to capitalize on this momentum.
In August 2024, the company’s crypto revenue tripled compared to the same period last year. This highlights the growing interest and participation in the cryptocurrency market. This surge in the trading, investing and banking platform’s revenue underscores the increasing adoption of digital currencies.
23% of the Swiss population owns crypto
A Bitpanda survey of more than 6,000 Europeans from Germany, France, Switzerland, Austria and Italy, showed that Switzerland emerged as one of the most crypto-friendly nations globally.
A substantial portion of the country’s population actively participating in the digital currency ecosystem.
The world’s crypto geography presents an intriguing paradox
The world’s largest blockchain protocols and foundations are clustered in developed crypto hubs, with Switzerland leading the pack:
Switzerland
Singapore
United States
Why?
Regulatory clarity… pic.twitter.com/S5gJEoiaoI
— arndxt (@arndxt_xo) July 14, 2024
“In our research, we wanted to better understand how these factors are changing,” said Bitpanda. “Switzerland was the most crypto-friendly country, with almost a quarter (23%) of the total population already owning cryptocurrencies.”
Read more: Bitpanda Survey Says Switzerland Is The Leading Crypto-Friendly Nation
The post Swissquote Sees Better Than Expected Results Driven By Crypto Demand appeared first on 99Bitcoins.