Dukascopy Begins Airdrop of Dukascoin: The First Crypto Ever Created by a Bank

Dukascopy, a Swiss-based online bank and forex broker, has decided to take a step forward in financial services innovation by integrating the use of cryptocurrencies and blockchain technologies into the range of services provided to its clientele.

After a strong design and testing phase dating back to September last year, the bank has finally initiated the airdrop of its crypto Dukascoin (DUK+), a speculative cryptocurrency, which seeks to reward its users, increase its clientele and popularize the use of its messaging service “Dukascopy Connect 911.”

Andre Duka, CEO of Dukascopy Bank, was the man in charge of making the announcement, explaining that the team had to go to great effort for the token to have the highest technological and legal standards:

I take this big event as a historic milestone for both the blockchain industry and the traditional banking sector.

Recently, we have observed many announcements from banks about their in-house crypto projects, yet, to the best of my knowledge, no working solutions have been deployed to the market. In our case, we confirm the real start of a bank’s crypto currency after a year of intense legal, technological and emotional effort that has required the consolidation of all our skills and knowledge

Dukascoin: A First Of Its Kind

For now, the token is not listed on any exchange. The trading of this cryptocurrency takes place on Dukascopy’s internal platform. According to the whitepaper, For each new client who opens a Mobile Current Account, 20 Tokens will be issued: 5 to the client, 5 to the introducing agent and 10 to the bank.

Dukascoin Price, March 2019. Courtesy Trustnodes

While the DUK+ is a token that serves as a means of payment and speculative asset, Dukascopy plans to issue another token called Dukasnotes, which will function as a stablecoin.

Currently there is no specific date of launch of the stablecoin; however, it is known that it will be backed by fiat currency guarded by the bank and will have a unique identifier, so that while the DUK+ are ERC-20 tokens, the Dukasnotes could be tokens of different architecture (maybe ERC-721?).

In an open letter to his clients, Dukascopy’s CEO appeared quite optimistic about the project and invited interested parties to investigate about Dukascoin and Dukasnotes to take advantage of the opportunities offered by these new tools:

As a CEO of the bank, I’m excited about the project and invite everybody to take a look at the unique opportunities which will be offered at the initial stage of the project. I guarantee there are many interesting options worth exploring. Those who are interested to follow the Dukascoin project, I welcome to check the web site www.dukascoin.com that was specifically created for the ICO project. There you can find all the latest news, features, dates as well as the project’s white paper.