Swiss Bank Opts To Help Clients Participate In ICOs
A Swiss bank has opted to enable its clients to participate in initial coin offerings.
Swissquote has previously allowed customers to trade in cryptos and Swissquote offers traditional Forex trading and the range of services that traditional banks offer.
The first ICO to be offered as an investment option on the banking platform is LakeDiamond, a lab-grown diamond company which is raising funds to purchase new equipment.
The pre-sale of this ICO is ongoing and offers a 10 percent bonus up to 4 million CHF (just under $4 million).The regular public sale will not open until January. It is expected that buyers will not have the opportunity to realize any gains or exchange their tokens for other cryptocurrencies before the spring.
According to CCN, “The token itself is pegged to the cost of diamond production. Each token is meant to be equivalent in value to one minute of growth reactor operating time, which produces lab-grown diamonds. One minute is the smallest possible unit, so the tokens are non-divisible past this point. If a diamond plate takes 180.5 minutes to grow, it will consume 181 LKD.”