Exchange News

Bitstamp to handle Bitcoin trades for an online bank

Bitstamp, a reputable crypto exchange, will now be handling Bitcoin trades for Dukascopy, a Swiss online bank.

This was announced by Bitstamp through a press release dated Jan 25. The press release continued to note that the online bank’s clients will be able to:

Send Bitcoins to their accounts and the crypto will be converted to U.S dollars, which they can use to trade on the Swiss FX Marketplace. Clients can also withdraw funds back to their cryptocurrency wallets in the form of Bitcoins.

Bitstamp’s partnership with the Swiss online bank comes in about 3 months after the crypto exchange indicated it was heading to the global stage.

According to Bitstamp, handling Bitcoin trades for Dukascopy is a major step in ensuring that the gap between crypto and traditional finance is reduced or entirely eliminated. The crypto exchange also views the partnership as an indication that their thirst for regulations and compliance is finally paying off.

Bitstamp has a Belgium-South Korean ownership in the sense that Bitstamp is own by NXMH which is a Belgium based firm while NXMH is owned by NXC which is South Korean.

Five days ago, another Swiss online bank, Falcon Private Bank, launched crypto wallet withdrawals. In a press release, Falcon said it has enabled:

Direct transfers of selected cryptocurrencies. With immediate effect, private and institutional clients can directly transfer cryptocurrencies to and from segregated Falcon wallets, as well as convert them into fiat money. This new offering from Falcon makes blockchain assets fully bankable.

Falcon indicated that it will start supporting direct transfers for Bitcoin Bitcoin Cash, Ether, and Litecoin.

In the recent past, Switzerland has attracted attention as home to the most rapidly growing technology hub in Europe

Do you think Bitstamp’s handling of Bitcoin trades for the online bank will see more Europeans get involved with digital currencies?

Let us know your thoughts in the comments section below.

coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

  1. This is a topic close to my heart cheers, where are your contact details though?

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