Saxo Bank rolls out new Crypto FX trading for Bitcoin, Ethereum & Litecoin

By Megha Bhattacharya

Online trading and investment specialist Saxo Bank has launched a new cryptocurrency offering in a bid to enable clients to trade Bitcoin, Ethereum and Litecoin against EUR, USD, and JPY from a single margin account without the need to maintain a crypto wallet. The Bank already offers clients access to 40 different cryptocurrency trackers and ETNs. The new Crypto FX offering complements the Bank’s existing product suite of 182 FX pairs through SaxoTraderGO and SaxoTraderPRO platforms.

Stanislav Kostyukhin, Commercial Owner – Trader segment, commented, “Saxo Bank has developed a unique proposition which gives our clients access to the growing crypto space in a flexible, secure and hassle-free manner from a single fully-licensed account without the need to use wallets or cold storage solutions. The offering sits at the intersection of traditional finance and crypto, which is where we see the market evolving as it draws the attention of retail traders and financial institutions.”

“We set out to deliver a product which offers the security and ease of use associated with more mature asset classes, coupled with the volatility and dynamics of Bitcoin, Ethereum, and Litecoin – giving clients the opportunity to trade both long and short in the thriving crypto market. Crypto FX achieves this by building on our 30 years’ experience as a leading firm in trading and investing, combining the traditional qualities of a currency pair alongside the exciting possibilities of a cryptocurrency.”

Recently, Saxo Bank signed a partnership agreement with five Danish SDC member banks including Sparekassen Vendsyssel, Sparekassen Thy, Middelfart Sparekasse, Frøs Sparekasse and Jutlander Bank. The partnership will allow the banks’ customers to access Saxo Bank’s trading and investment solutions.