Crypto Exchange Bitstamp Partners With Swiss Online Bank Dukascopy

Innovation, News | January 28, 2019 By:

Crypto exchange Bitstamp has partnered with Swiss online bank Dukascopy to enable crypto funding on the bank’s platform.

Founded in 2011, Bitstamp is a regulated European crypto exchange and the EU’s largest by trading volume. Currently offering trading between BTC, BCH, ETH, XRP, LTC, USD and EUR, the exchange empowers individuals and institutions to reap the benefits of emerging financial technologies by unlocking reliable access to leading cryptocurrencies.

Based in Geneva, Switzerland, Dukascopy bank specialized in online and mobile trading, banking and financial services. The bank’s activities focus on foreign exchange, contract for difference (CFD) for stocks, metals, commodities, indices, cryptocurrencies and binary options. It also offers current account, e-banking , and credit card services.

Dukascopy’s partnership with Bitstamp will enable its clients to send bitcoins to their accounts and the crypto will be converted to US Dollars, which they can use to trade on the Swiss FX Marketplace. Clients will also be able to withdraw funds back to their crypto wallets in the form of bitcoins.

“Bitstamp will serve the needs of Dukascopy in exchanging fiat funds to bitcoins and back,” Bitstamp said. “This partnership represents another step towards our goal of bridging the gap between crypto and traditional finance. It is further proof that our efforts in compliance and regulation continue to deliver results at a time of rapid maturation for the cryptocurrency industry.”

The Bitstamp partnership is not Dukascopy’s first foray into the crypto space. Last month, the bank announced that they have won approval of Switzerland’s financial market supervisor FINMA for an initial coin offering (ICO). The approval will allow the bank to launch the public sale of its own cryptocurrency Dukascoin by early March 2019.