Switzerland’s premier forex bank and broker Dukascopy is creating a stronger portfolio of cryptocurrency offerings with new Litecoin CFDs. The bank already offers Bitcoin and Ethereum CFDs to users.
Litecoin’s addition is a landmark
Though Dukascopy already offers Bitcoin and Ethereum contracts-for-difference (CFDs), the addition of Litecoin is a landmark for the bank. It is also a positive development for the Litecoin project. Dukascopy bypassed Ripple’x XRP, Bitcoin and other prominent crypto coins to settle on LTC, the seventh-largest cryptocurrency in the world.
At the time of writing, Litecoin has a market capitalization of $3.7 billion and traded at $58.37. Litecoin is one of the most popular forks of the original Bitcoin Core (BTC) blockchain. In recent months, Dukascopy has been trying to create a bigger portfolio of crypto offerings. It allows its clients to deposit and withdraw funds in cryptocurrencies. Moreover, they are also allowed to transfer crypto-assets using mobile banking. The service, if used by two users of the same bank, is offered for free.
According to the lender,
“The Bank’s infrastructure already allows clients to fund their trading accounts using BTC, exchange its own cryptocurrency Dukascoin on the internal marketplace and trade CFDs on BTC/USD and ETH/USD with leverage of up to 1:3.”
The rise of crypto
The forex bank doesn’t just offer crypto products but also offers its own stablecoin Dukacash. The fiat pegged cryptocurrency also has peers like CNY+, connected with Chinese Renminbi, GBP+ connected with UK Pound, JPY+ connected with Japanese Yen, MXN+ connected to Mexican Peso and RUB+ connected with Russian Ruble.
This new class of assets was launched in 2018 when the bank first tested its Bitcoin offering service and took its initial steps into the crypto field. It suggests that it could release some other cryptocurrencies in the future. Currently, Dukascopy provides Dukacash custodial services. It also accepts payments for its services in Dukacash.