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A European cryptocurrency exchange Bitstamp has announced a partnership with the big Swiss online bank Dukascopy, according to an announcement published on Friday 25 January.
Bitstamp will support Bitcoin (BTC) transactions on behalf of Dukascopy Bank. Customers will be able to send BTCs to their accounts, convert them into US dollars and trade them in the Swiss foreign exchange market. In addition to this, customers can transfer their funds into the portfolio as a BTC. Bitstamp thinks the new partnership will help narrow the gap between crypto and traditional finance.
In October 2018, Bitstamp was bought out by the Belgian investment company NXMH, which in turn belongs to the South Korean media conglomerate NXC Corp. Shortly after the acquisition, Bitstamp announced that she was heading towards a "global expansion".
As previously reported by Cointelegraph, another Swiss bank, Falcon Private Bank, recently introduced support for the direct transfer and storage of certain cryptocurrencies. Since January, the bank supports four main parts: Bitcoin, Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC).
Earlier this month, the large Swiss investment bank Vontobel has launched an encrypted custody solution for banks and badet managers, allowing them to offer their customers a number of cryptography related services, including the purchase, transfer and storage of digital badets.
In December 2018, the Swiss city of Zug – nicknamed "Crypto Valley" – was ranked as the fastest growing technology community in Europe, according to the annual report "State of European Tech" of the London investment firm in Atomico technologies.
Another study by the Swiss VC investment company VC VC showed that the number of blockchain-related companies in Switzerland and Liechtenstein has steadily increased, despite "Crypto Winter".
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