Every day I am keeping track of new nation getting into crypto. At this rate I'd be covering like all the nations on the globe and their crypto adoption. This time I found Swiss has joined the crypto and blockchain universe and have started getting acitve with the crypto services.
Dukascopy, one of the popular bank in the swiss has started working on the crypto for some time. And they have started offering the crypto storage and the marketplace. And now they are going few steps ahead. Now they are offering the lending service.
Swiss has been giving out the crypto licenses to the banks and the broker. And the Dukascopy being one of the popular broker in the market, they have managed to get the license for variety of the services and the marketplace lending.
So let's talk about the Dukascopy and it's crypto services.
Image Credit: Dukascopy
Dukascopy, a bank in Forex and now Crypto
There are banks that are working as a broker and a mini bank. And often the banks are having the license to do the things that can work around with the trading crypto, nft and the funds. So the europe is getting many of those type of the services.
Considering swiss is known for variety of the foreign people investing into their banks. You can see that they have been into the forex more than we can know and also we kind of anticipate that these banks sooner or later would get into the crypto.
Crypto lending Service Program
Forex was past and it is still going on lately. But the thing is that crypto market is hot and going to be very active in near future. So it's reasonable to have some lending and funds type of the service into such type of the crypto market.
Dukascopy is going to allow you to keep your bitcoin or crypto into lending. And you would get like 50 percent of the amount into this for the lending program. And maybe it can even expand into more altcoin portfolio. That in short would be possible future from the banks.
Multi Currency Cash, Trading and Lending
So Dukascopy is not just going to be providing the cash for your bitcoin put under loan. You would also have the trading system offered to you. They would be allowing typical brokerage system with crypto as a collateral added into the wallet. Which is kind of new there.
Such services are not available in the US as the SEC based regulations and the control that is out there kind of limits the forex brokerage system to such as extent. You may find this a good option for anyone who is into the forex, multi currency business that wants something like that in the crypto industry.
Dukascopy is a good bank and if you do the KYC and add some little funds into the account, you are getting a good free account over at swiss. Though not sure if we need that anymore as the banks are just getting less usage with crypto in more of a control.
Lending programs with crypto as a collateral is not a new concept in USA but in EU that is slowly taking some roots. And we are going to be seeing some really good results as the blockchain and crypto gets into the society all over the world.