Swissquote, popular for its trading services, has moved towards becoming a digital bank with the launch of two daily banking packages, 'Bright' and 'Light', the company announced today (Thursday).

Swissquote Enters Digital Banking

Both packages include comprehensive daily banking services, along with a multi-currency and crypto-friendly debit card, issued by Mastercard. The Swiss company further highlighted a wide range of payment options supported by its banking packages and a cashback offer.

"Our new banking and debit card packages cater to a specific demand that many of our customers have expressed strongly: the need for a multi-currency, crypto-friendly, and fully digital solution," said Jan De Schepper, the Chief Sales and Marketing Officer at Swissquote.

"They combine the most requested payment features with our innovative Trading Credit cashback program. Payments are as secure as always, but now also physical-wallet-free, no matter where or when."

A Two-Tier Offering

As explained by Swissquote, 'Bright' offers the "most complete banking package" with a physical and digital debit card. However, users need to pay a monthly fee of CHF 6.9 after the first six months of free services to take advantage of this package.

'Light', on the other hand, is the free option, offering only a virtual debit card, although customers will have access to all digital banking services.

Other services being offered under 'Bright' are free transactions with 13 currencies and five free ATM withdrawals every month. Further, the Mastercard debit card can also make payments in Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term, and Ripple, with Swissquote's plans to add more cryptocurrencies.

Upon spending, Swissquote's digital banking users will receive Trading Credits, which can later be used to engage in trading at a reduced cost. The Trading Credits vary depending on the account tier: 0.5 percent with regular card payments, and 1 percent for 'Bright'; while 'Light' users will receive 0.25 percent with regular card payments, and 0.5 percent with crypto payments.

In other news, Swissquote announced the promotion of its General Manager, Nestor Verrier, to the role of Chief Operating Officer, effective from January 1, 2024. He will replace Lino Finini, a long-time executive in the company, who is going to retire.