Swiss online trading firm, Dukascopy, has enhanced its crypto offerings by adding 10 more crypto-fiat trading pairs.
Apart from making more crypto pairs available to users, the broker has also improved its overnight rates. The goal is to give traders and investors more options when trading on the platform. The latest crypto addition includes Compound, Cardano, Yearn Finance, Polygon, Basic Attention Token, Chainlink, Enjin, Uniswap, and Maker.
Dukascopy Now Has 19 Crypto Offerings
The addition of the new crypto assets means that there are now 19 digital assets available for trading on the Dukascopy platform. They are now live on JForex’s self-trading accounts, Dukascopy Europe, and Dukascopy Bank.
Last month, the platform added four new instruments to the MT$ trading accounts: Monero (XMR/USD), TRON (TRX/USD), EOS (EOS/USD), and Dashcoin (DSH/USD).
In May, the broker provided higher leverage from 1:3 to 1:5 for its users on LTC/USD, ETH/USD, and BTC/USD.
Dukascopy’s Revenue Adjusts To Market Conditions
According to the bank, the leverage boost was necessary because of the crypto market crash in May and the recent rise in volatility across several digital assets.
In August, the FX broker released its financial results for the first half of the year. The report shows a strong decline from CHF 12.7 million in H1 2020 to CHF 1.4 million in H! 2021.
The poor performance was a result of the sluggish revenue results from trading operations, which almost halved from a year earlier.
The H1 revenue for the broker fell from CHF 25.4 million in H1 2020 to CHF 11.4 million, representing a 55% fall in the period.
When it comes to operating expenses, the company reported CHF 10.08 million in the first six months. This is slightly down by 8% when compared to the CH11 million reported during the first half of last year.
Dukascopy is one of the early adopters of cryptocurrencies. The platform recently rolled out its native Dukascoin as part of its plans to provide more token options to its users. It has also increased maximum cryptocurrency deposit limits to $100,000 and added Tether as a deposit method.