Neobank Revolut announced on Tuesday that it has launched trading accounts for clients in Switzerland. The company has over 900,000 clients in the country.
The new offering means that those clients can now access the same sorts of products that Revolut customers in other regions already have.
That includes stock trading, a robo advisor service, and money market funds.
Revolut was previously only offering an e-payments type service in Switzerland. The new offering seems to be structured as a partnership between its Lithuanian banking entity and local firm Postfinance.
The result of this is that clients also now have access to Swiss IBANs.
Revolut was also previously prohibited from doing marketing in Switzerland.
This will also change and the company can now attempt to market its products in the country.
One of the company’s main competitors is Yuh, a product launched in a joint venture between brokerage group Swissquote and Postfinance.