Switzerland’s forex bank and broker, Dukascopy, has expanded its range of cryptocurrency instruments and will now add trading support for Litecoin, which joins its already installed CFDs on Bitcoin and Ethereum.
At the time of writing, Litecoin (LTC), which ranks in 7th spot on the global coin ranking list, is changing hands at $58.35 after an increase of two percent over the past twenty-four hours. The digital currency currently boasts a market cap of $3.7 billion, and its trading volume over the past 24 hours is $3.2 billion.
Dukascopy has been taking steps towards strengthening its budding cryptocurrency offering, including allowing 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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“The Bank’s infrastracture already allows clients to fund their trading accounts using BTC, exchange its own cryptocurrency Dukascoin on the internal marketplace and trade CFDs on BTC/USD and ETH/USD with leverage of up to 1:3,” it said.
The FX broker introduced the crypto CFDs instruments earlier in 2018 when it began testing the service with its Bitcoin offering, which marked the first stage of Dukascopy’s decisive move into the surging cryptocurrency arena, with the release of other cryptocurrency derivatives could take place in the near future.
The forex bank has also expanded the family of its upcoming fiat-pegged stablecoin ‘Dukascash’ with the addition of five new underlying currencies. The newly-listed tokens include CNY+, GBP+, JPY+, MXN+, and RUB+, which are pegged to Chinese Renminbi, UK Pound, Japanese Yen, Mexican Peso, and Russian Ruble, respectively.
The Swiss banking institution also plans to offer the custody service for yet-to-be-launched Dukascash tokens, whilst it will accept Dukascash tokens from its clients, as a payment for its services, at the exchange rate of 1:1 to the fiat base currency.