Swissquote, a publicly listed online bank and broker, recently confirmed its future expansion ambitions in Europe to Finance Magnates, revealing its plans for both CFDs and crypto markets.

According to the company, it will soon launch an extensive Single Stock CFD offering, thus further extending its existing brokerage services. Additionally, it is planning to improve its offerings by enhancing the features of the proprietary Advanced Trader Platform that uses Trading View charting capabilities.

But, the big ambitions of the broker are for the growing crypto markets.

Swissquote has already been offering cryptocurrency trading for years, and now it is going to expand its services with the launch of crypto  Staking  Staking Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus.This notably differs from Proof-of-Work (PoW) blockchains that instead rely on mining to verify and validate new blocks.Conversely, PoS chains produce and validate new blocks through staking. This allows for blocks to be produced without relying on mining hardware. As such, instead of competing for the next block with heavy computation work, PoS validators are selected based on the number of coins they are committing to stake.Users that stake larger amounts of coins have a higher chance of being chosen as the next block validator. Staking ExplainedStaking requires a direct investment in the cryptocurrency, while each PoS blockchain has its particular staking currency.The production of blocks via staking enables a higher degree of scalability. Moreover, some chains have also moved to adopt the Delegated Proof of Staking (DPoS) model. DPoS allows users to simply signal their support through other participants of the network. In other words, a trusted participant works on behalf of users during decision-making events.The delegated validators or nodes are the ones that handle the major operations and overall governance of a blockchain network. These participate in the processes of reaching consensus and defining key governance parameters. Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus.This notably differs from Proof-of-Work (PoW) blockchains that instead rely on mining to verify and validate new blocks.Conversely, PoS chains produce and validate new blocks through staking. This allows for blocks to be produced without relying on mining hardware. As such, instead of competing for the next block with heavy computation work, PoS validators are selected based on the number of coins they are committing to stake.Users that stake larger amounts of coins have a higher chance of being chosen as the next block validator. Staking ExplainedStaking requires a direct investment in the cryptocurrency, while each PoS blockchain has its particular staking currency.The production of blocks via staking enables a higher degree of scalability. Moreover, some chains have also moved to adopt the Delegated Proof of Staking (DPoS) model. DPoS allows users to simply signal their support through other participants of the network. In other words, a trusted participant works on behalf of users during decision-making events.The delegated validators or nodes are the ones that handle the major operations and overall governance of a blockchain network. These participate in the processes of reaching consensus and defining key governance parameters. Read this Term and lending services. However, it did not specify any dates for the introduction of the new crypto products.

Ahead of the product line expansion, the Swiss company has already started brand promotions. Recently, it signed a three-year deal with UEFA for sponsoring two European football leagues, UEFA Europa League and UEFA Europa Conference League.

Structural Changes

As a part of the expansion plan, the Swiss group will make some structural changes in its European retail businesses.

Swissquote Bank Europe (Luxembourg) will focus its activities on equity and crypto trading within the European Union, the company detailed. London-based Swissquote Ltd will continue to serve as the key location of the group’s  Forex  Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term and CFDs business development outside the EU markets.

Swissquote already has a massive international presence with international entities in Luxembourg, United Kingdom, UAE, Hong Kong, Singapore and Malta. The group is now exploring international expansion strategies, including the possibilities of opening new offices in Europe.

Meanwhile, the group turned over solid financials for many past consecutive quarters. As Finance Magnates reported earlier, Swissquote’s net revenues jumped 64.5 percent higher in the first half of 2021, while the pre-tax profit touched CHF 134.6 million, gaining 130 percent in a year.