Saxo Bank’s Crypto Volumes Exceed $2.5bn

Saxo Bank​, one of the largest online investment banks in Europe, has announced that its selection of crypto products has exceeded 2.5 billion USD (16 billion DKK) in turnover for the year, leading the Danish online broker to increase position limits and add new crypto products in response to significant client demand.

Launched in May 2021, Crypto FX enables Saxo 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. Demand for Saxo’s Crypto FX offering has exceeded expectations and is expected to continue as investors increasingly look to alternative assets as an avenue for diversification and potential hedge against rising inflation.

In response to growing client interest, Saxo is further enhancing its crypto offering by:

• Adding new crypto products: Saxo is now offering nine leveraged Crypto FX pairs and more than 50 exchange traded products (ETPs) tracking tokens such as Cardano, Solana, Polkadot, Stellar, Ripple and other popular digital assets. One of the latest additions also includes the first ever US Crypto ETF issued by Proshares last week under ticker BITO. 

• Increasing position limits: Saxo is increasing maximum Crypto FX position limits from 50,000 USD to 200,000 USD for Retail clients and 200,000 USD to 500,000 USD for Professional accounts*.

Clients are able to trade Crypto FX pairs during FX trading hours from Sunday evening to Friday evening with the ability to open both long and short positions. The Crypto FX offering complements Saxo’s existing product suite of 200 FX pairs offered through the award-winning SaxoTraderGO and SaxoTraderPRO platforms.