Swissquote is the biggest leading online bank at Switzerland which records great profit in the previous year 2018. This follows the event when the bank introduces cryptocurrency trading functionality on its platform.
Swissquote is said to be the Gland operating online bank. According to the statement by the company, it raises its pretax profit from around 16 percent to worth 53.3 million Swiss francs approx. $54.7 million in 2018. Moreover, their revenue growth increases over 15 percent to worth 214 million francs.
This resulting record is at the time when it does not yet consider figures from the Internaxx Bank at Luxembourg which was taken off back in August. On the other hand, the transaction seems to be likely accomplished by the closure of its first quarter.
This will be in action after agencies in Luxembourg along with the European Union grants their approval. The entire result regarding Swissqoute will be out by March 8.
The growth in their earnings is because of the significant enhancing results within their trading traditional business together with foreign exchange, Swissquote said.
Lastly, the company is enjoying gains from the successful announcement of cryptocurrency trading. The bank claims to be the initial European online bank providing this service. Moreover, they allow the customers to trade cryptocurrencies on their platform from recent one-and-a-half years.