A Swiss bank, Dukascopy, reported this Thursday they are to use ethereum’s public blockchain for an Initial Coin Offering (ICO) pending regulatory endorsement by the Swiss Financial Market Supervisory Authority.
The Swiss online bank says they will issue 20 billion Dukascoins with the point of growing their versatile banking activities.
They say any individual who agrees to accept a Mobile Current Account or potentially their banking application Connect 911 ambassador, will get 5 Dukascoins for nothing. Any individual who alludes them gets 5, while the bank itself keeps 10 Dukascoins.
Bank clients will then have the capacity to uninhibitedly exchange these tokens, similarly as they do with some other tokens. The bank itself will likewise give a trade of sorts to individuals who need to purchase or offer the Dukascoins.
The bank additionally says they will offer, every so often, enormous bunches of Dukascoins of at least 100,000 out of a “fill or kill” way, so bringing the tokens into circulation.
The above is planned to be launched inside three months, pending regulatory endorsement, with the bank expressing they have finished the whitepaper and the specialized determination.
Moreover, they are to launch a stablecoin called Dukasnotes. These will be pegged to a fiat currency, however, which one isn’t indicated.
That is on account of the note is by all accounts in the beginning times, with the whitepaper not yet wrapped up. It is intended to be launched after the tokens. They say:
“Dukascoins are planned as a crypto methods for installment to be made in restricted amount to serve both as installment and hypothesis implies. Dukascoins are required to pick up in an incentive because of restricted supply.
Their initial reason for existing is to compensate new customers in a limited time plan going for promoting the Dukascopy Connect 911 flag-bearer and related Mobile Current Accounts of Dukascopy to an extensive degree.”
This is the specific first bank to ICO and it might well be one of the first settled organization to do as such, with the bank as of now has 300 representatives.
As indicated by Wikipedia, the bank is headquartered in Geneva, with “workplaces in Riga, Kiev, Moscow, Kuala Lumpur, Hong Kong, Shanghai, Dubai, and Tokyo.”
Making it a worldwide bank which was established in 2004 with this ICO apparently being a grasp of blockchain tech and maybe a flag of their receptiveness to blockchain/crypto organizations which may require a bank account.
Switzerland itself has been exceptionally accommodative of cryptos with Zug setting up itself as a Crypto Valley and a problem area for ICOs.
Regardless of whether the regulator will give the green-light, be that as it may, stays to be seen, however on the off chance that they do then Switzerland will have the first bank on the world to ICO.