Swissquote Becomes World’s First Bank to Offer its Clients ICO services

Swissquote, CEO Marc Bürki
Marc Bürki, Swissquote CEO

Swissquote, part of Swiss banking group focusing on online financial and trading services has become the first bank in the world to offer its client with the opportunity to participate in Initial Coin Offerings (ICOs).

ICOs have emerged as a preferred option among startups and fintech companies to raise funds as it helps to circumvent the stringent regulatory compliance. Under the new services launched by Swissquote, investors no need to own a blockchain wallet and can purchase coins issued by companies directly against Swiss Francs (CHF) using their trading account. Swissquote manages right from execution to the custody of tokens.

Swissquote has selected Swiss-based start-up LakeDiamond for their first ICO on its platform which is issuing tokens worth 60.5 million Swiss francs in total. LakeDiamond will be issuing minimum tokens of 60LKD which is equivalent to 33 Swiss Francs.

LakeDiamond produces human-made high-grade diamonds in a controlled environment that have specialized reactors for applications such as watch movements, lasers or transistors.

Swissquote CEO Marc Burki said:

Pascal Gallo, CEO of LakeDiamond
Pascal Gallo, CEO of LakeDiamond

“True to our philosophy to democratize finance by offering services that are simple and accessible to everyone, we are now offering our clients the opportunity to help grow start-ups. Combining crowdfunding with the blockchain creates a new form of fundraising. Thanks to contributions starting at 33 Swiss francs, clients can participate without being required to invest large sums into venture capital or private equity funds.”

Pascal Gallo, CEO of LakeDiamond added:

LakeDiamond has developed and continues to develop its cutting-edge technology combining lab-grown ultra-pure diamonds and high-end industrial applications. With its ICO, LakeDiamond is seeking to accelerate its growth and is delighted to be the first company using the new ICO services offered by Swissquote.