The Swiss coin broker wants to use the cryptocurrency boom to expand. Its banking partner is raising the company's guarantees to do so. 

The rally in bitcoin – the main cryptocurrency hit an all-time high of $20,000 recently – and other tokens is a boon to Bitcoin Suisse. The token broker recorded a more than 15 percent increase on the month in new client accounts in November and double October's trading volume, it said in a statement on Tuesday. 

CEO Arthur Vayloyan said an upgrade in the network underpinning ether, the world's second most-traded cryptocurrency, also bolstered demand. In order to keep step with the surge in volume, Bitcoin Suisse is lifting its bank guarantee to 60 million Swiss francs ($67 million), from 55 million francs currently.

Big Funding Round

The Zug-based firm told investors last month expects a double-digit profit for the year, but signaled that it still has some ways to go in winning a Swiss banking license. Bitcoin Suisse also wants to carry out a security token offering, or STO, next year, and eventually wants to go public.

Bitcoin Suisse stands out from Seba and Sygnum, which were first to win licenses, as hugely profitable, stocked with ex-big bankers (including co-founder Niklas Nikolajsen and Vayloyan), and has thousands of clients and processes in place. It also recently clinched 45 million francs in a funding round.