GENEVA, Switzerland—Dukascopy Bank announced it has developed its own Ethereum stablecoins.
The bank will have separate stablecoins each "softly" linked to euro, U.S. dollar, and Swiss franc, the bank said, adding that it will add more currencies at later stages upon clients' requests, according to a report from The Block.
The stablecoins will be issued as ERC-20 tokens similar to other stablecoins already on the market. They will opened for public testing in on July 3. The minimum size of a transaction is 1,000 tokens, the bank said, as it wants to "protect retail clients from the risks associated with participation in the testing processes."
"The main purpose of the introduction of [the stablecoins] is to enhance the use in the blockchain of payment tokens issued by Dukascopy Bank," the bank said.