The Swiss forex bank and broker called Dukascopy and the cryptocurrency exchange Bitstamp have signed a partnership to enable cryptocurrency funding on the bank’s platform. This is very important for the crypto community in the country.
The decision taken by the bank is in line with its stance towards virtual currencies. Dukascopy became one of the first Bitcoin-friendly banks in Switzerland after some issues experienced with other financial institutions in the country. Back in 2018, the company shared its plans to launch a new dedicated crypto gateway and now is being tested.
CRYPTO BANKING: We partnered with @DukascopyBankSA, a leading Swiss online #bank, to enable #bitcoin account funding for their clients. Read more: https://t.co/g2dnVgf6xJ #adoption pic.twitter.com/Z4erFf604U
— Bitstamp (@Bitstamp) January 25, 2019
Users are able to exchange US dollars for Bitcoin (BTC) in a similar way as if users would be trying to purchase or sell another currency on the bank’s platform. At the same time, they can withdraw the funds directly to their cryptocurrency wallet.
The bank has been taking different steps in order to offer crypto solutions to its users. Customers are able to deposit and withdraw funds in a very easy way using digital currencies. Furthermore, individuals can also send and receive transfers in cryptocurrencies between users of the mobile banking.
Bitstamp is one of the most popular digital currency exchanges in the world and the only one to receive a license to operate from the European Union (EU). The exchange is partnering with the bank to facilitate the process.
It is also worth mentioning that the bank has also launched the website for his own cryptocurrency. The bank has already filed for approval of its Initial Coin Offering (ICO) plans with the Swiss Financial Market Supervisory Authority (FINMA). The intention is to launch the cryptocurrency as soon as in March 2019.
Switzerland is one of the most friendly countries towards Bitcoin and cryptocurrencies. However, some banking institutions are reluctant to offer services to crypto and blockchain clients. Nevertheless, the government has taken a very flexible approach regarding digital assets to attract new companies and firms.