Retail broker Dukascopy announced on Thursday that it has formed a new partnership with Swiss Crypto Exchange (SCX). Based in Zurich, SCX is, as its name implies, a venue for trading digital assets.
Starting on Friday, Dukascopy customers will be able to trade in digital assets via an integration with the exchange. Traders will have access to fiat-to-crypto pairs using either euros or the Swiss franc.
Currently, the firm is only providing fiat-to-crypto trading in bitcoin and ethereum, but the number of available cryptocurrencies is likely to expand. Users can also trade in more cryptocurrency pairs using bitcoin.
“Our strategy has always been to offer a seamless on-ramp infrastructure from fiat to crypto and multilateral trading for crypto-to-crypto,” said Francesco Adiliberti, CEO Swiss Crypto Exchange.
“With this integration everything happens in a secure and regulated ecosystem in Switzerland: your bank account, your personal wallet and your access to the crypto exchange.”
Why Nigeria is Becoming Africa’s Fastest Growing Forex Trading NationGo to article >>
Opt-in for crypto
Dukascopy account holders that want to access the service can opt into it via the company’s mobile application.
If they do choose to opt-in, they will automatically have a cryptocurrency wallet opened on their behalf.
In a statement, Dukascopy said that funds would be held in a “secure crypto custody infrastructure” but did not reveal who is providing that service.
The retail broker has been particularly active in the cryptocurrency field. Last month the firm launched a stable-coin pegged to several fiat currencies. That followed on the heels of the company launching its own cryptocurrency – Dukascoin.
“This seamless integration of fiat accounts and crypto trading in a unique ecosystem is a further step in the right direction for the execution of our strategy towards increased adoption and liquidity for the Dukascoin,” said Dukascopy CEO and founder Andre Duka. “We are pleased to have found in SCX a reliable…regulated partner.”