Dukascopy offers all users a new loan product of up to 50% to maintain their cryptocurrency investments.
Swiss online forex broker and forex banking, Dukascopy, has added a cash loan product in US dollars for cryptocurrency investments to expand its offering. In this program, users can borrow up to 50% of the value of digital assets in fiat currency while retaining ownership of their original crypto investments.
To receive a loan from this program, users can open a multi-currency bank account (MCA) and transfer cryptocurrency from the respective reference blockchain wallets. Following this, access to digital assets will appear in the investment section in MCA to select the "Borrow/Lend Crypto" option.
Since signing the business contract, the user will receive an email with login credentials for the trading sub-account. The applied maximum loan is up to 50% of the market value of the crypto investment in fiat currency as collateral, in addition to the open position of their crypto investment.
In other words, if users transfer 0.1 bitcoin (BTC) to an MCA account, they will get $1405 in the bank account directly and automatically with the same amount of Fiat in the trading account. Subsequently, this Swiss financial institution charges a 1% commission for each cryptocurrency from transactions.
Additionally, By the end of 2022, Dukascopy had issued 6.1 million Dukascoins after developing crypto-fiat functionality alongside its retail banking activities. The Swiss company also took initiatives to strengthen its cryptocurrency offerings and avoid clone fraud, including customer deposits and withdrawals in digital currencies and free internal crypto transfers between mobile banking users.