Swissquote slashes full-year outlook as crypto income collapses in H1

Swissquote Group Holdings SA reduced its full-year revenue and profit forecasts on Wednesday after first-half crypto trading income collapsed, sending its shares down sharply.

The Zurich-based online bank reported a 78% year-over-year decline in crypto-related revenue for the first six months of 2026, citing a sharp drop in trading volumes across major cryptocurrencies. The decline followed a prolonged bear market in digital assets, which has weighed on investor sentiment and transaction activity.

As a result, Swissquote lowered its full-year revenue guidance by 20% and cut its profit forecast by 30%, citing the sustained weakness in crypto markets. The company had previously anticipated a partial recovery in trading activity by the second half of the year, but conditions have deteriorated further.

Swissquote’s shares fell as much as 12% in early trading on the Swiss SIX exchange, extending losses from the previous session. The decline reflected investor concerns over the bank’s exposure to volatile crypto markets and the broader impact of reduced trading volumes on its financial performance.

The bank’s revised guidance underscores the challenges facing financial institutions with significant crypto-related revenue streams. Swissquote, which has historically positioned itself as a bridge between traditional finance and digital assets, now faces heightened scrutiny over its ability to sustain profitability amid prolonged market downturns.

A spokesperson for Swissquote declined to comment beyond the company’s official statement, which emphasized the need for caution given the uncertain macroeconomic environment and regulatory developments in the crypto sector.