Maerki Baumann Private Bank based in Zurich revealed it will offer support for cryptocurrency.
Switzerland is known as a crypto-friendly country, and the fact that another financial giant is entering the crypto sector is once again demonstrating its intentions.
Last year, Falcon Private Bank, a Swiss financial institution, was among the few banks that believed in the promising future of cryptocurrencies and did its utmost to provide crypto-powered services to customers.
The second Swiss bank to accept cryptocurrency
It’s time for another Swiss bank to provide crypto services. Zurich-based Maerki Baumann Private Bank is thrilled to announce it will accept crypto assets. However, the mechanism looks different from the standard services provided by other banks in the crypto sector. The financial institution will monitor the source of virtual funds and accept deposits primarily for service or from mining activities.
Maerki Baumann Private Bank has declared that cryptocurrencies represent an opportunity for investors:
“Maerki Baumann closely monitors the development of these investment vehicles and the underlying regulation without our commitment to engage in this area. This concerns investments in cryptocurrencies as well as the technologies required to trade and store these instruments. We currently see cryptocurrencies as alternative investment vehicles, but we have limited experience and data (prices, volatility, trading volumes) available in our house.”
Switzerland demonstrates once again that it is interested in progressing in the crypto field. Swiss companies do not cease to get involved in the development of the country’s economy, and especially to offer another insight into modern technology.
Recently, Zurich-based fintech company SIX Group has revealed that it will release a “fully integrated digital asset infrastructure” – dedicated to trading, contracts, and custody of crypto assets.
