Swiss Bank Partners With Bitstamp to Empower BTC Funding and Withdrawals
Cryptocurrency trade Bitstamp has partnered with a Swiss bank to enable the bank’s customers to fund their dollar-denominated accounts with BTC as well as withdraw money in the cryptocurrency. Coins are converted into USD. Withdrawals are switched into BTC and transferred into the wallets.
The bank explained that any BTC delivered to it will be converted into USD. Bitstamp is accountable for measuring fiat funds and back to the lender. “the BTC/USD conversion’s proceeds have been credited into the crypto-fundable customer account in USD the lender explained, including:
This isn’t Dukascopy Bank’s foray to the crypto space. It provides contract for difference (CFD) “trading about price movements of cryptocurrencies, its derivatives or worth estimations,” based on its website. Currently, only CFDs on BTC and ETH can be found, both with a leverage ratio of 1:3 along with a 33 percent gross condition.
“This partnership represents yet another step towards our goal of bridging the difference between crypto and classic fund,” Bitstamp wrote. “It is further proof that our efforts in regulation and compliance continue to deliver results at a time of maturation for the market that is cryptocurrency. ”
Bank ’s website additional details that customers who have opened CFD positions do not own the assets and the “price of CFD varies over different cryptocurrency exchanges. ” The lender also noted that its prices on cryptocurrencies are unique and based on its ability to hedge Dukascopy places with external counterparties. ”
What do you think about this partnership involving Dukascopy Bank along with also Bitstamp?
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The bank converts sum into BTC at a present rate debits a sum of USD in the crypto-fundable customer account and transports the bitcoins.
Images courtesy of Shutterstock, Bitstamp, along with Dukascopy Bank.
Bitstamp declared on Friday that it has “partnered with Dukascopy Bank, among the leading Swiss online banking, to enable crypto funds on their own platform. ” The exchange elaborated:
Dukascopy Bank’s Crypto CFD Offerings
S customers can send bitcoins for their accounts along with the crypto will be converted into US dollars, which they can utilize to trade about the Korean FX Marketplace. Clients can also withdraw money back to their own wallets in the shape of bitcoins.
Geneva-based Dukascopy Bank provides currency and precious metal (currency ) trading to retail and institutional customers. Its website explains that the funding and concessions of BTC can be found through “crypto-fundable trading balances,” including that BTC is the sole cryptocurrency.