Bitstamp has announced their partnership with Swissquote, an apparent leader in Swiss online banking, to provide "full-stack services" to new trading pairs involving bitcoin now offered by Swissquote.

Swissquote launched offering of pairs XBT/EUR and XBT/USD, bitcoin paired with the Euro and Dollar respectively, today with Bitstamp providing the back-end support to that offering under the partnership.

This marks another digital currency and traditional financial industry unity where there have been very few. Coinbase hooked up with USAA Bank for dual account balances through their mobile portal and BitPay provided WB21 bank with it's bitcoin funding solution . Both companies have also partnered with traditional financial institutions for their individual card offerings (Shift and the Bitpay Card) and they both worked with Paypal (but we won't hold that against them).

With the exception of a few others and funding such as BBVA's large investment in Coinbase, there hasn't been much else in the way of significant partnerships.

Swissquote is also hardly a "traditional financial" entity either, it's primarily an online establishment and presence.

Bitstamp had this to say:

"Bitstamp is honoured to be working with such a respected name in the financial world. Our partnership with Swissquote clearly shows that our efforts to increase compliance and regulation in the Bitcoin industry are continuing to bear fruit. With bitcoin now available in Swissquote customers’ domestic trading environment, this news means we are well on the way to achieving our long-term goal – the full integration of bitcoin with traditional financial services."

Clearly not a terrible occurrence and seeing a financial institution that doesn't hate bitcoin or at least pretend not to doesn't completely suck either. Other than stealing its technology in hopes of captial gain, the traditional establishments haven't looked at much of anything in this industry in a positive light.

You can read more on the announcement on Bitstamp's website.

Article by dinbits
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