According to the documents, Dukascopy intends to issue ERC-20 stablecoins named “Dukascash” pegged to the Euro, Swiss franc, and USD, and step by step increase the listing of Dukascash tokens’ base currencies relying upon its user demands. The bank additional specified:
“The initial Dukascash tokens tranches of roughly CHF 10 Mln or equivalent in every base currency will be issued and primarily be kept by the Bank as ‘unreleased’ tokens. Moreover, the additional Dukascash tokens will be issued in tranches, relying upon user demands. Small parts [up to CHF a 100k] of un-released Dukascash tokens will then be released in favor of the Bank to allow it to sell Dukascash tokens to the purchasers.”
The bank outlined within its white-paper that the leading purpose of introducing Dukascash is to bolster the utilization of ‘blockchain‘ of payment tokens issued by Dukascopy. The general public testing stage is expected to begin from 3rd July.
The bank also plans to offer a custody service for Dukascash tokens, and accept Dukascash tokens from its users at the rate of exchange in a ratio of 1:1 to the fiat base currency, as a payment for its services.
Earlier in January, Dukascopy ‘partnered‘ with the European cryptocurrency exchange named ‘Bitstamp’. Bitstamp will support Bitcoin [BTC] transactions on behalf of Dukascopy Bank, wherein purchasers will be able to transfer Bitcoins to their accounts, convert them to USD and trade on the Swiss FX Marketplace, additionally, permitting users to transfer their funds back to their wallets in Bitcoin.
The Brazilian platforms together with PagCripto, Nox Trading, 3xBit, and Bitcambio, are also ‘reportedly‘ issuing an ERC-20 based stablecoin – pegged in the ratio of 1:1 with the Brazilian real – Real-T [REALT].