Dukascopy Bank partners with crypto exchange Smart Valor
Dukascopy Bank announces new cooperation with digital assets exchange Smart Valor.
The API-driven integration of Dukascopy and Smart Valor infrastructures will offer the shared clients an enriched environment, in which they may instantly trade 176 digital assets pairs using a Swiss bank account supporting 22 global currencies.
The exact modus operandi is identical to the existing Dukascopy – ZBX (Zillion Bits exchange) framework. The user must have an account at Dukascopy Bank and Smart Valor. Both accounts will have to be linked by the user inside the interface of Smart Valor. Once linked, the specially created ‘partner’ fiat sub-accounts at the Bank can be used for the automated buying and selling of cryptocurrencies at the Exchange.
Under this model, Dukascopy is only taking care of the fiat funds flow, while the operations with crypto are fully under the roof of Smart Valor.
Dukascopy Bank has developed rich crypto-fiat functionality over the last several years. There are now four methods available for customers to trade crypto at the Bank. First, a client can acquire crypto (ETH, BTC, USDT) as an investment straight from Dukascopy’s account and withdraw it to the blockchain. Second, a client can buy crypto from one of the Bank’s crypto exchange partners. Third, a client can purchase crypto from another client of Dukascopy using the P2P crypto-fiat exchange service recently launched by the Bank. Fourth, the Bank offers leveraged trading of crypto pairs on the brokerage account using its professional trading platform.
Dukascopy Bank Co-CEO Dr. Andre Duka comments:
“Despite the recent swings in the crypto markets, we at Dukascopy Bank continue to witness the growing interest and demand from our international client base to this domain of instruments. Therefore, we ceaselessly work to improve our crypto infrastructure in all possible directions including the formation of new partnerships. We are welcoming the Smart Valor Exchange as a new member of our ecosystem and have no doubt that the clients of both institutions will gain from our collaboration.”
Olga Feldmeier, board chair of Smart Valor, notes:
“Making transactions in digital assets available to bank customers is the core mission of our B2B2C strategy. We are happy to launch this service offering by partnering with a bank that is close to us in terms of innovation mentality and is, just like us, based in one of the most prestigious and well-regulated jurisdictions – Switzerland. Two Swiss financial technology companies joining forces to deliver a better user experience and access to digital assets – this milestone will demonstrate the way forward for many traditional financial institutions which are currently contemplating available entry options.”