Swiss Bank Swissquote Launches Its Own Platform to Start ICO

October 26, 2018

Switzerland bank Swissquote has declared opening its own online platform with users having options to participate in ICOs.

To join ICO there a user has to own a bank account so they will be able to convert their funds into local stablecoins backed by the Swiss franc (CHF) and transfer them to the platform for further crypto exchange. The bank provide user funds safeguards including crypto tokens.

The first ICO open for participation was LakeDiamond, the project by the Swiss Federal Institute of Technology in Lausanne (EPFL). The company is focused on production of high-profile diamonds in labs with specialized equipment.

Under its ICO LakeDiamond will be selling tokenized minutes of machine manufacturing. Total value of the LKD coins will be equal to approximately 60.5 million Swiss francs with one token costing 0.55 francs. As company spokespersons say, the raised funds will be doled out for 50 more equipment units.

Marc Bürki, CEO of Swissquote, shared his comment on the issue:

“<…> true to our philosophy to democratise finance by offering services that are simple and accessible to everyone, we are now offering our clients the opportunity to help grow start-ups.”

Minimum amount of coins necessary for participation in ICO is 60 LKD (33 CHF). Pre-sale stage will last from October 22 to December 11 this year. All Swissquote ICO members will be awarded with one token for each 10 purchased coins. The offer will remain true until the project raises 4 million CHF.

“LakeDiamond has developed and continues to develop its cutting-edge technology combining lab-grown ultra-pure diamonds and high end industrial applications. With its ICO, LakeDiamond is seeking to accelerate its growth and is delighted to be the first company using the new ICO services offered by Swissquote,” LakeDiamond CEO Pascal Gallo said.

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