Dukascopy, the Swiss based bank and brokerage which focuses on foreign exchange as well as Contracts for Differences (CFDs) for stocks, commodities and other assets, has today announced they are launching ethereum trading. They say:
“Starting from today trading on ETH/USD CFD is available for Dukascopy Bank and Dukascopy Europe self-trading accounts. ETH/USD trading conditions are similar to BTC/USD.
The applicable leverage for this CFD type will be 1:3 in Dukascopy Bank and due to ESMA regulation 1:2 in Dukascopy Europe.”
The broker and bank licensed by the Swiss Financial Market Supervisory Authority (FINMA) further says Mobile Current Account customers will be able to hold eth on their bank account and transfer it to other Dukascopy users.
They plan to go further to provide crypto withdrawals and deposits for current accounts and trading accounts starting with bitcoin. They say:
“Crypto funding means that clients of Dukascopy Bank will be able to transfer funds to/from the bank not only in FIAT currencies, but also in crypto currencies to/from their crypto wallets.
At first the bank will test the crypto funding concept on bitcoin. The crypto funding element should become a significant part of Dukascopy’s infrastructure which later will be used also for its own cryptocurrencies.”
Dukascopy recently announced they are to ICO on ethereum’s public blockchain for a new token called Dukascoins pending regulatory approval by FINMA.
They say the tokens will be used to reward current account customers, with the bank reserving the option to bulk sell Dukascoins.
In addition they plan to launch a new stablecoin called Dukasnotes which is pegged to a fiat currency, but they have not yet determined which one.
They plan to facilitate a market for Dukascoins by offering trading of it on their own platform. To further increase their crypto infrastructure, they’re now planning to add Ethereum CFDs and may in the future allow the depositing and withdrawal of eth on actual bank accounts.