DUKASCOPY LAUNCHES INNOVATIVE CRYPTO-BACKED FIAT LOAN SERVICE FOR TRADERS

Leading Swiss forex bank and brokerage firm, Dukascopy Bank SA unveils a groundbreaking lending solution for crypto investors looking to optimize their assets without letting go of their holdings. This introduction propels the bridge between traditional banking and the digital asset world to a new height.

Understanding the growing needs of cryptocurrency investors and traders, Dukascopy is introducing a service allowing customers to borrow up to 50% of their cryptocurrency's value in fiat currency – all while retaining full ownership of their crypto investments. In simpler terms, think of this as a mortgage for your digital assets!

The process is straightforward

1. Customers open a multi-currency bank account (MCA) with Dukascopy.

2. They then transfer the desired cryptocurrency to this account.

3. Via the “Investments” tab, the “Crypto lending/borrowing” option is selected.

4. Post signing a “Trading Agreement”, clients receive credentials to access a trading sub-account.

5. Here, they find 50% of their transferred crypto's market value in fiat currency, alongside their original crypto investment.

To illustrate: Transfer 0.1 bitcoin (BTC) to your MCA, and find $1,405 (using current value for representation) credited in both fiat and crypto form in respective accounts. To ensure transparency and fairness, a 1% commission is levied on the incoming cryptocurrency transfer.

This pioneering service arrives at a pivotal moment for the crypto world, which, despite its rapid growth, has faced challenges, notably regulatory scrutiny and recent notable bankruptcies. But Dukascopy remains unfazed, doubling down on its crypto-fiat capabilities.

Over the years, the bank has seamlessly integrated crypto functionalities with its retail banking services. By the close of 2022, more than 6.1 million Dukascoins had been issued. Nevertheless, like any innovation, it attracted unwarranted attention, with clone scams emerging in the shadows of the pandemic. Addressing these challenges, Dukascopy has fortified its cryptocurrency offerings, facilitating deposit and withdrawal in digital coins and enabling zero-cost internal crypto transfers for mobile banking users.

Additionally, the bank continues to expand its offerings. Currently, an impressive roster of 1160 instruments - encompassing FX, Bullion, CFDs on commodities, bonds, Indices, cryptos, stocks, and ETFs - are accessible on Dukascopy's proprietary JForex trading platform.

In sum, Dukascopy's crypto-backed fiat loan service is a testament to the bank's commitment to innovation, blending traditional and digital banking to empower traders and investors.

About Dukascopy Bank SA

Founded in Geneva, Dukascopy Bank SA is a front-runner in the world of forex banking and brokerage. With a keen focus on integrating emerging technologies with conventional banking services, Dukascopy continues to set industry standards and cater to the evolving needs of its global clientele.

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