Crypto-Backed USD Lending Program Introduced by Dukascopy Bank

Dukascopy Bank Offers Clients Crypto-Backed USD Lending

Dukascopy Bank, headquartered in Geneva, is introducing a lending program allowing clients to borrow USD against their cryptocurrency holdings. Users can obtain a loan for 50% of their crypto assets’ value by opening a multi-currency bank account, transferring their chosen crypto, and selecting the Crypto lending option. A Trading Agreement is required, giving access to a trading sub-account with the same fiat collateral. Dukascopy automates these processes, charging a 1% commission on crypto transfers. This move by the Swiss-regulated bank is significant in a crypto lending industry facing increased regulatory pressure and notable platform failures.

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