Dukascopy Bank, a FINMA regulated banking institution in Geneva, and Swiss Crypto Exchange, a regulated exchange platform for crypto currencies and blockchain products which launched its service a year ago, have implemented a crypto trading integration. Customers with a bank account at Dukascopy will be able to trade Swiss Francs and Euros versus Bitcoin, Ether and Dukascoin as well as crypto-to-crypto through SCX instantaneously.
Dukascopy Bank is the first FINMA regulated banking institution to have issued its own crypto payment coin Dukascoin (DUK+) for public use. The bank will allow its 120’000 clients to opt-in into the Swiss Crypto Exchange and start trading DUK+ against Bitcoin (BTC) and trade other crypto currencies. The trading integration will be available from Friday July 12th.
Dukascopy’s and SCX's unique integration model succeeds at solving a major market friction for Swiss bank customers in crypto currency trading. So far clients with a Swiss bank account who wanted to trade on a neutral crypto exchange had to initiate lengthy wirings of funds for every transaction from their bank account to foreign crypto exchanges third-party bank accounts abroad. Now the entire value chain is executed with a Swiss bank account at Dukascopy Bank, through the Swiss Crypto Exchange supporting crypto wallets hosted by a Swiss secure crypto custody infrastructure.
“This seamless integration of fiat accounts and crypto trading in a unique ecosystem is a further step in the right direction for the execution of our strategy towards increased adoption and liquidity for the Dukascoin and we are pleased to have found in SCX a reliable Swiss regulated partner” comments André Duka, founder and Co-CEO Dukascopy Bank.
“Our strategy has always been to offer a seamless on-ramp infrastructure from fiat to crypto and multilateral trading for crypto-to-crypto. With this integration everything happens in a secure and regulated ecosystem in Switzerland: your bank account, your personal wallet and your access to the crypto exchange.” says Francesco Adiliberti, CEO Swiss Crypto Exchange.
(Press release)Picture: Dukascopy
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