Swiss Bank Dukascopy Allows Deposits And Withdrawals in Tether USDT

Swiss Bank Dukascopy Allows Deposits And Withdrawals in Tether USDT
  • Tether (USDT) currently trading at $0.998994 USD.
  • Tether has been steady even though the so-called stablecoin  UST lost its value.

Dukascopy Bank SA, a Swiss financial services company, announced that it had enabled blockchain operations in ERC20 Tether (USDT) for holders of multi-currency accounts (MCAs).

After Bitcoin (BTC) and Ethereum (ETH), this is the third crypto-currency that can be used for deposit and withdrawal from a trading account that has been approved by Dukascopy Bank as “crypto-fundable.”

Crypto Assets on Dukascopy 

Dukascopy made tether the first stablecoin available to its clients, they can deposit and withdraw the stablecoin straight from their cryptocurrency wallets.

Tether transactions follow the same steps as depositing and withdrawing Ethereum (ETH). First, the client must validate ownership of the crypto-fundable account by linking a personal blockchain wallet to it, after this Crypto assets can be transferred between the MCA account and the connected wallet.

The Dukascopy Bank always converts clients’ crypto-assets into Fiat money (USD) without further warning to the clients. The converted revenues are credited to the crypto-fundable customer account in USD.

For withdrawal, the Bank pays back an amount in USD, converts the amount into BTC, ETH, or USDT (depending on the account type) at the current price of the asset, and transfers them to the client’s account wallet. 

Tether grabs investors’ attention, it’s becoming most top stablecoin in the market and it is placed as a 3rd Cryptocurrency according to the CoinMarketCap (CMC). Tether (USDT) currently trading at $0.998994 USD with a trading volume of $54,144,613,076 USD. Tether total market cap is $73,201,346,960 USD, the current CMC rank is 3. There are 73,275,094,959 USDT coins in circulation.

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