Understanding Ethereum Pledge Services Offered by Incore Bank

04/08/2023 08:41 • Tech Trends • 92 views

On April 8th, Incore Bank, a financial bank headquartered in Zurich, Switzerland, announced that it will provide customers with Ethereum pledge services. The bank stated that customers using its Ethereum pledge services must fully comply with the “Know Your Customer (KYC)” and anti money laundering (AML) compliance requirements.

Swiss Incore Bank Announces Offering Ethereum Pledge Services to Customers

Introduction

Incore Bank, the Switzerland-based financial institution, has announced its latest service offering to provide Ethereum pledge services to its customers. Incore Bank customers willing to use Ethereum pledge services would be required to comply fully with the “Know Your Customer (KYC)” and anti-money laundering (AML) compliance requirements. This article explains everything to know about Ethereum pledge services offered by Incore Bank, including the benefits, requirements, and more.

What is Ethereum pledge services?

Ethereum pledge is a service that enables individuals to hold their Ethereum as collateral and borrow funds against their Ethereum pledge collateral. The Ethereum pledge services offer an opportunity to borrow funds against the collateralized Ethereum without liquidating the Ethereum holding.

Benefits of Using Ethereum Pledge Services

Incore Bank’s Ethereum pledge services offer customers significant benefits, including:

Instant access to funds

Incore Bank customers can instantly access funds by holding their Ethereum as collateral instead of liquidating their Ethereum holding to get cash.

No credit check

Incore Bank’s Ethereum pledge services do not require a credit check or any other credit-related inquiry.

Lower interest rates

Ethereum pledge services usually offer lower interest rates for borrowing money compared to traditional bank loans, making it a more affordable way to access funds.

No inflation or devaluation concerns

The Ethereum pledge service ensures that customers are not negatively affected by the inflation or devaluation of fiat currencies.

Requirements for Using Incore Bank’s Ethereum Pledge Services

To comply with the “Know Your Customer (KYC)” and “anti-money laundering (AML)” regulations, Incore Bank’s Ethereum pledge service requires certain conditions to be met:

Identity Verification

Customers must verify their identity by providing necessary documents such as a passport or national ID card.

AML Compliance

Customers must comply with the AML policy by providing information on the source of their Ethereum holdings.

How to use Incore Bank’s Ethereum Pledge Services

To use Incore Bank’s Ethereum pledge services, customers must follow these simple steps:

Step 1: Open an Account

Customers can open an Incore Bank account online to access Ethereum pledge services.

Step 2: Verify Identity

Customers need to verify their identity by providing necessary documents, including passport or national ID card.

Step 3: Fund the Account

Customers need to fund their Incore Bank account with Ethereum to qualify for Ethereum pledge services.

Step 4: Request Ethereum Pledge Services

Once a customer’s account is funded with Ethereum, they can request Ethereum pledge services by notifying Incore Bank’s customer support team.

Conclusion

Incore Bank is offering Ethereum pledge services to its customers that provide instant access to funds, lower interest rates, and no credit check requirements. However, customers must comply with the KYC and AML regulations. Hopefully, this guide has provided valuable information regarding Ethereum pledge services offered by Incore Bank.

FAQs

1. What is Ethereum pledge?
2. Can I use Incore Bank’s Ethereum pledge services if I don’t have Ethereum holdings?
3. What are the benefits of using Ethereum pledge services offered by Incore Bank?

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