Dukascopy Expands Crypto Offerings with Launch of Lending Services

Dukascopy Bank SA (Dukascopy), a Geneva-based retail FX broker, announced the expansion of its crypto offerings with the launch of lending services.

The crypto lending program introduced by Dukascopy enables users to get cash up to 50% of the value of their digital assets holding. To access this service, users will also need to have a Multi-Currency Account (MCA) with the broker, which will serve as the central hub for their crypto lending.

For example, if clients send 0.1 bitcoin (BTC) to their MCA account at a price of $30,000 per Bitcoin (based on the current market price of BTC), they could keep their 0.1 BTC investment while receiving a loan equivalent to 50% of the value of 0.1 BTC, or $1,500.

Taking the same exchange rate as an example, if clients send $1,500 to its MCA account, the fund will be deposited into the newly established trading sub-account, and an automated long position of 0.1 BTC/USD at the prevailing price of $30,000 per BIT will be opened in their trading account.

It is worth noting that investment fraud cases have been frequent in recent years, and Dukascopy has issued several warnings​ to remind customers to be aware of some fraudulent clone websites. The broker urged customers to be vigilant against providing any personal information on those fraudulent websites.