This marks the first major joint commercial project for the companies following the acquisition of BinckBank by Saxo Bank.
BinckBank is about to significantly expand its services in Spain via the launch of a special investment platform designed to serve European expats living or staying in the country. The new platform is based on Saxo Bank’s technology and is the first major joint commercial project following the acquisition of BinckBank by Saxo Bank.
Until now, BinckBank served mainly the more than 100,000 Dutch-speaking expats in Spain. The new platform offers a state-of-the-art trading environment developed by Saxo Bank for investors, but also support English, Dutch and no fewer than 26 other languages. Under the BinckBank brand, customers will gain access to Saxo’s multi-asset trading platform. Thus, they get access to a wider selection of global markets, and can trade in a variety of products across asset classes.
Vincent Germyns, CEO of BinckBank, commented:
“With this new multilingual platform our branch in Spain can reach a much broader group of (potential) investors, including a large number of English-speaking expats. And as well amongst our Dutch customers and facilitate access to a wider selection of global markets, and trade a variety of products. Moreover the new combined entity has a very solid and strong European footprint, which can be an extra plus for British expats in view of a possible Brexit.”
Let’s recall that, in December 2018, Saxo Bank announced that it intended to acquire BinckBank and to form a larger and stronger organization. Following the approval of regulators and strong shareholder acceptance, the acquisition was formally completed on August 7, 2019.