Swiss Online Bank Launches Automated Cryptocurrency Lending Product


This article has been republished with permission from Binance News.

According to Foresight News, Swiss online bank Dukascopy has introduced an automated cryptocurrency lending product for its customers. To access this service, users must open a multi-currency account (MCA) with the bank. Once the supported cryptocurrencies are transferred into the account, users will receive 50% of the transferred cryptocurrency’s value in US dollars in their MCA account, while the other half will be transferred to a trading sub-account. At the same time, the user’s trading account will open long positions equivalent to the transferred cryptocurrency amount at the current price, in order to maintain the user’s cryptocurrency investment position.

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