Dukascopy Launches Dukascoin Website, Releases Whitepaper

The document outlines the token model and security measures, but it didn’t provide details about any scheduled ICO.

Dukascopy’s cryptocurrency, the Dukascoin, is a step closer to reality following the release of its official website, which could help address the increasing queries regarding the upcoming cryptocurrency.

Available in five languages, the Dukascoin website, www.dukascoin.com, is dedicated to improving the visibility of Dukascopy’s latest crypto product through offering general information and up-to-date news. The website also publishes the first official release of the Dukascoin White Paper, which is finally available for scrutiny.

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The document outlines the token model and security measures, but it didn’t provide further details about the crowdsale mechanism that could be used in the future. Dukascopy said that further details regarding “Dukascoins in circulation, exchange rate, real-time chart and market depth” will become available after the launch.

Most notably, the whitepaper didn’t reveal any details about any scheduled ICO for the Dukascoin tokens, which will be available initially as rewards for using its Connect 911 messenger and the associated MCA accounts.

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The forex bank revealed earlier that every client could get five Dukascoins by opening an MCA account. After that, they can either sell it or buy more on the market. Furthermore, they can withdraw Dukascoins from the Bank to their external blockchain wallets.

Dukascopy continues crypto-friendly approach

There are no other major curveballs or a definite roadmap in the Dukascoin whitepaper. Still, the document is worth reading in full. Here are a few highlights:

  • The Dukascoin, designed as a crypto means of payment, will be issued in limited quantity to serve as both payment and speculation.
  • Dukascopy Bank SA will provide its clients with the opportunity to receive the token for free and to gain capital in case the price of these tokens rises. The Dukascoin is expected to gain in value due to a limited supply and is the first cryptocurrency in the Swiss banking.
  • Dukascoins will be deliberately distributed in small portions within new MCA account holders. Strategic investors should continuously buy the tokens from MCA holders in order to consolidate a large amount of Dukascoins.

Earlier in December, Dukascopy said it had become the first Swiss bank to win approval for an ICO by Switzerland’s financial market supervisor, FINMA.

This designation allows the Geneva-based Retail FX broker to launch the public sale of its own cryptocurrency Dukascoin by early March 2019. Until then, Dukascopy has yet to finalize the ICO environment and to pass audit and bounty tests, though it was told by FINMA that there are no further regulatory obstacles.

Dukascopy also enabled crypto-related companies to open business accounts back in June. Further, in November, the firm allowed clients to deposit and withdraw funds in digital coins, as well as enabling free internal crypto-transfers between users of mobile banking.

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