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Switzerland’s Dukascopy Bank partners with Bitstamp cryptocurrency exchange

Mon, 28 Jan 2019, 03:48 am UTC

Dukascopy Bank, a leading Swiss online bank, has entered into a partnership with cryptocurrency exchange Bitstamp in a bid to enable crypto funding on its platform.

Headquartered in Geneva, Dukascopy Bank provides Internet-based and mobile trading services (with focus on foreign exchange, bullion, CFD and binaries), banking and other financial services through proprietary technological solutions.

Through its partnership with Bitstamp, Dukascopy will allow its clients to send bitcoins to their accounts, which will then be converted to US Dollars and can be used to trade on the Swiss FX Marketplace. In addition, clients would also be able to withdraw funds back to their cryptocurrency wallets in the form of bitcoins.

“Bitstamp will serve the needs of Dukascopy in exchanging fiat funds to bitcoins and back,” Bitstamp said.

“This partnership represents another step towards our goal of bridging the gap between crypto and traditional finance. It is further proof that our efforts in compliance and regulation continue to deliver results at a time of rapid maturation for the cryptocurrency industry.”

In September 2018, Dukascopy Bank announced its own crypto initial coin offering (ICO) projects. In December, it received the required approval from the Swiss Financial Market Supervisory Authority FINMA for Dukascoin -- the first ever ICO of a Swiss Bank.

Earlier this month, the bank launched Dukascoin project’s website. According to the official release:

“Dukascopy Bank SA is planning to launch the service on-line starting from March, 1 2019. Information regarding Dukascoins in circulation, exchange rate, real-time chart and market depth will become live after the project launch.”

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