Dukascopy has launched a marketplace for peer-to-peer (P2P) cryptocurrency exchange, giving clients exposure to the price bulletin boards.
Geneva-based broker Dukascopy is enhancing its digital asset services with the launch of a marketplace for peer-to-peer (P2P) cryptocurrency exchange. This new service provides a price bulletin board to list the buying and selling prices of cryptocurrencies. This platform is only available for Dukascopy clients.
Initially, the P2P platform only supports 12 major cryptos, but the trading service provider wants to strengthen the list with the addition of altcoins and even non-fungible tokens (NFTs).
Dukascopy further explained that the company will be involved in securing fiat funds in P2P transactions. Thus, until the seller manages to deliver the traded cryptocurrency to the buyer's crypto wallet, the buyer's fiat funds are blocked. Dukascopy further explained:
"The key distinctive feature proposed by Dukascopy's P2P solution compared to other existing platforms is the safe execution of the fiat leg of the exchange operation. Other systems within the industry provide escrow to the crypto leg while in fact, it is the fiat leg that is more problematic and riskier to settle, harder to verify and control by an independent investigator. To avoid the settlement risk, the users of Dukascopy P2P service need to strictly follow the rules of the P2P marketplace and not send fiat funds outside of its perimeter."
It doesn't stop there, as the company also plans to roll out API-based connectivity to the P2P marketplace. These additions will make the service suitable for professional clients.