Dukasсopу Bank has launched a new white-label partnership with MTBank, a bank in the Republic of Belarus – the new branch will be launching with immediate effect under the name MTBankFX, per a recent Dukascopy statement.
The launch follows on the heels of a recent uptick in foreign exchange (FX) activity in Belarus in recent years, following the regulatory certification by the National Bank of the Republic of Belarus. As a result of the branding, Dukascopy Bank’s trading technology has become the inaugural FX platform to pass inspection by the National Bank of the Republic of Belarus as well as the National Forex Center, achieving the requisite levels of compliance for over-the-counter (OTC) FX activities in the country.
In addition, the new white-label partnership and launch of MTBankFX will gain access to Dukascopy’s trading platforms, as well as its liquidity and order execution of the SWFX system of Dukascopy Bank.
According to Igor Bychek, Deputy Chairman of the Board of MTBank, in a recent statement on the branding and regulation: “The situation has changed due to a change in legislation. Over the years we observed the market: we communicated with customers, experts and received a response from the market – in Belarus there are people who want to get and use Forex to invest in this risky market.”
“Dukascopy Bank is very honored of providing its online and mobile trading solutions to MTBank, one of the main and most popular banks in Belarus. Dukascopy’s trading system was the first to be accepted by the Central Bank and Belarusian Currency & Stock Exchange, to which the Central Bank delegated the software certification process,” reiterated Laurent Bellieres, Chief Financial Officer (CFO) and Chief Risk Officer (CRO) of Dukascopy Bank, in an accompanying statement.