Swiss Forex Bank And Brokerage Firm Resumes Its Cryptocurrency Offering


The Swiss forex bank and brokerage firm, Dukascopy, announced that they would continue its cryptocurrency offering. This time they would let crypto-related companies open business accounts.

Blockchain companies would only be admitted after carrying out in-depth due diligence on them as the search for new customers would be thorough and accurate. Plus, the bank would only be accepting crypto firms incorporated and regulated in the EU, the UK or Switzerland and would operate background checks before it makes a definitive decision.

Though it’s very unusual, it is not impossible for cryptocurrency exchanges to secure services from banks in Switzerland. Earlier this year it was reported that Hypothekarbank Lenzburg bank will offer professional banking service for blockchain technology and cryptocurrency companies.

A contract-for-difference (CFD) for Bitcoin paired against the US dollar has been launched by Dukascopy, according to their announcement.

Swiss banks went as far away as possible from engaging with cryptocurrency companies, which received a lot of scrutinies from the regulators. Though the digital asset has been accepted in Switzerland, reluctant traditional lenders are having second thoughts whether to do business with crypto-linked services providers because of money laundering concerns and prospects of a regulatory crackdown.

Related Cryptocurrency News