Bitcoin Suisse, a Zug-based crypto financial services company, announced on Tuesday that the number of its client accounts saw a monthly increase of 15 percent in November while the trading volume doubled.
The company detailed that its strong monthly growth was fueled by the introduction of Ethereum 2.0 staking services. Its clients initially committed 25 percent of the total Ethereum during the network upgradation: the current staked Ethereum at Bitcoin Suisse went over 97,000 ETH worth around $57 million.
Commenting on the impressive demand, Bitcoin Suisse CEO, Dr. Arthur Vayloyan said: “Our performance in November demonstrates our business principles and our competitive edge. This year has brought a lot of innovation to the crypto space, namely in DeFi and most recently with the launch of Ethereum 2.”
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The Swiss company offers an array of cryptocurrency services, including trading, staking, and collateralized loans, mostly to institutions and wealthy private clients.
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Moreover, the company will support the administration of Swiss canton Zug in receiving local taxes in Bitcoin and Ethereum from February 2021.
Earlier this year, Bitcoin Suisse closed its Series A financing round, raising CHF 45 million with a valuation of CHF 302.5 million.
The latest announcement further highlighted that the company has increased its bank guarantee from an AA-rated Swiss bank to a total of CHF 60 million. This decision was fueled by increasing client demand on the platform.
“We are a strong and reliable partner that helps clients to identify and realize attractive opportunities in the crypto markets when they arise. Thanks to our experience and our scalable and robust platform, we are able to respond quickly to client demand,” Dr. Vayloyan added.