Swiss financial trading services provider Dukascopy Bank today announced it has developed a marketplace for P2P exchange cryptocurrencies. The bulletin board organisation provides a space for the clients to buy and sell tones against fiat currencies.
Currently, there are 12 major tokens available. Dukascopy revealed plans to expand the accessible instruments to altcoins and NFTs.
The P2P crypto exchange service is available via the Dukascopy Connect app by clicking on the 911 dedicated section. To use the Marketplace, users need an active MCA account.
Dukascopy ensures the security of the fiat settlement in the process of a P2P exchange between two clients. The bank achieves that by blocking the fiat funds of the Buyer until the Seller successfully delivers the traded cryptocurrency to the Buyer’s crypto wallet.
The distinctive feature proposed by Dukascopy’s P2P solution is the safe execution of the fiat part of the exchange operation. To avoid settlement risk, Dukascopy P2P service users need to strictly follow the rules of the P2P marketplace to the letter and not send fiat funds outside of its perimeter. In case of disputes between parties, the company will initiate its own investigation of the transaction to secure the safe resolution of the issue.
Dukascopy stated that intends to offer API-based connectivity to the P2P marketplace as part of future developments for more sophisticated customers who would like to get more automated order control and advanced trading functionalities.
Dukascopy Bank has announced earlier it has received authorisation from the Swiss financial regulator FINMA to provide its customers with exchange of crypto currencies and fiduciary deposits in crypto.