Swissquote crypto income fell 66% in the first half of 2026

Swiss online bank Swissquote earned CHF 14.6 million from crypto in the first half of 2026, down 66.2% from a year earlier, its half-year report shows. The rest of the business grew, client assets reached a record CHF 96.3 billion, and pre-tax profit stayed almost flat at CHF 182.9 million.

“The crypto market, however, was adversely affected by geopolitical tensions, higher interest rates and a stronger USD.”

— Swissquote, Swissquote

Quote source: Swissquote, 13 August 2026.

The crypto line includes a CHF 5.3 million markdown on the coins Swissquote holds to provide liquidity on SQX, its own crypto exchange. Bitcoin and most other coins lost value, fewer clients traded, and income from crypto missed the bank’s own guidance. Swissquote blamed the market, and its account numbers kept growing through the half.

What grew instead

Other revenue lines carried the half. Compared with the first half of 2025:

• net fee and commission income rose 13.0% to CHF 123.7 million;
• net trading income rose 15.8%, helped by foreign exchange trades;
• net interest income rose 7.2%;
• eForex income rose 9.1% on moves in precious metals and commodities.

Net revenues came to CHF 364.2 million, up 1.7%. The bank added 64,011 accounts in six months to 1,220,818, and clients brought in CHF 5.1 billion of new money. The pre-tax margin held at 50.2%.

A lower target for 2026

Swissquote now expects about CHF 730 million of revenue and CHF 365 million of pre-tax profit for 2026, down from CHF 760 million and CHF 385 million. It blamed the weak crypto market and expects only a gradual recovery towards the end of the year. Coinbase showed the same pattern in October, when its revenue fell 35% in the third quarter. Swissquote kept its target of CHF 500 million pre-tax profit for 2028.

Its app Yuh grew to 423,409 accounts and CHF 4.0 billion of client assets, lost CHF 1.0 million before tax and still aims to break even this year. In June Yuh opened early access to Yuhlia, an AI assistant that sees the user’s account.

Total assets reached CHF 16.9 billion, just under FINMA’s CHF 17.0 billion threshold, so Swissquote expects to become a category 3 bank and face a higher minimum capital ratio of 12.0%. Its ratio stood at 25.2%. If you trade crypto through Swissquote, the report changes nothing about your account. Our Swissquote profile lists its licences.

Based on Swissquote’s half-year results release of 13 August 2026, checked on 10 November. Swissquote reports the next full figures on 18 March 2027. Information only, not investment advice.