Swissquote Slashes 2026 Outlook Amid Cryptocurrency Market Downturn

Swiss banking and fintech firm Swissquote Group (SQN) has revised its financial outlook for 2026 due to a significant downturn in cryptocurrency trading. In the first half of 2026, Swissquote's net crypto income plummeted by 66.2% year-over-year to CHF 14.6 million ($18 million). The company attributes this decline primarily to weaker-than-expected cryptocurrency prices.

The sharp drop in crypto income was accompanied by a corresponding decrease in trading volume, which fell 63.5% to CHF 2.58 billion. Despite these losses, Swissquote's non-crypto trading and interest income helped stabilize its overall financial performance.

Swissquote maintains a cryptocurrency inventory on its proprietary exchange SQX, but this move resulted in a 5.3 million-franc loss for the company. However, client assets increased by nearly 20% to CHF 96.3 billion, indicating continued growth across its platforms.