Saxo Bank Expands Cryptocurrency Offering, Increases Position Limits

Saxo Bank, one of the largest online investment banks in Europe, has expanded its cryptocurrency offerings with the addition of 9 crypto-FX pairs and increase of position limits to meet the increasing demand for crypto assets.

Specifically, Saxo's retail clients can now take positions as high as $200,000, which was increased from the previous limit of $50,000. For professional clients, this limit has been increased from $200,000 to $500,000.

Additionally, the brokerage platform is offering more than 50 exchange-traded products (ETPs) tracking the performances of popular crypto assets. 

"Saxo Bank set out to provide a product which offers the security and ease of use associated with more traditional asset classes, coupled with the market trends and price dynamics of the crypto space," said Stanislav Kostyukhin, Commercial Owner for the Trader segment at Saxo.

"The exceptional response and activity seen in the six months after the launch of our Crypto FX offering clearly shows that crypto is an increasingly important asset class for our clients," Kostyukhin added. "We certainly expect interest to grow further as the crypto industry continues to mature, and we are planning to grow our offering to cater to the market as investor demand evolves."