Now the customers of a Swiss bank, Swissquote will be able to participate in the Initial Coin Offerings (ICOs) easily.
Swissquote Group of Holding is a Swiss banking group which is specialized in the provision of online financial and trading services. The group is active in trading in equities, options, futures, bonds, and warrants. Swissquote bank offers services which are specially designed for corporate clients and asset managers. The bank also provides electronic asset management tools, ePrivate banking, and traditional banking services such as mortgage, saving accounts, and currency trading.
Swissquote bank is known for taking initiatives in the field of blockchain technology and cryptocurrencies. Previously the Swissquote bank allowed its clients to trade in cryptocurrencies. This is an unusual service which is offered by a traditional banking institution. The first ICO which the bank is going to offer as an investment option to its clients is LakeDiamond ICO. LakeDiamond is raising funds to buy new lab equipment which will help to increase the production capacities of the company. The company is a global leader in the production of lab-grown diamonds for high tech industrial applications. The Chief Executive Officer (CEO) of the LakeDiamond, Pascal Gallo said that:
“We are well positioned to become the leading lab-grown diamonds player by leveraging our expertise, products and know-how to further capture market share in the lab-grown diamonds market, especially as we strengthen our position in micro-mechanics and robotics, and expand into other industrial segments such as photonics, electronics and biotech. Our ICO intends to provide LakeDiamond with the resources needed to accelerate the pace of its development and expand its leadership in lab-grown diamonds”.
LakeDiamond ICO became the first ever ICO which is powered by an established banking institution. Though people do not need a bank to invest in ICOs but the Swissquote bank found it an excellent investment opportunity for its clients, so they have partnered. The CEO of Swissquote Bank, Michael Ploog said:
“The launch of the Swissquote ICO offering is a logical step in the development of our blockchain-related services and complements our cross-asset platform. With its ICO, LakeDiamond, which is developing cutting-edge technology combining lab-grown diamonds and high-end industrial applications, is seeking to accelerate its growth.”
The pre-sale of the LakeDiamond ICO is ongoing and offering a 10% bonus of up to 4 million CHF. In January, the ICO will be available for the general public. Until the spring, the buyers will not be able to realize any gain or exchange the tokens for other cryptocurrencies.
The token is pegged to the cost of diamond production. Each token is equivalent in value to “1 (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.” LakeDiamond tokens are priced around 50 cents each. The maximum supply is about 6.8 million.
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