Swiss Bank MAERKI BAUMANN Begins To Accept Cryptocurrency Assets

Maerki Baumann, a Swiss private bank in Zurich, decided to accept cryptocurrency assets. The organization will not offer direct investment in crypto and crypto derivatives, but if necessary, will provide experts, according to an international investment website.

Representatives of Maerki Baumann noted that they consider cryptocurrency assets as ways of investing. On the other hand, they also note a lack of proper experience in working with them.

The bank will only accept cryptocurrencies received through payments for services or mining. Maerki Baumann, similar, also does not want to stay in the shadows and miss cryptographic hype. Two other small Swiss banks – Vontobel and Falcon Bank – have already started accepting crypto assets, as well as Liechtenstein-based Bank Frick. A year ago in July, the Swiss Falcon Private Bank reported that it would store and trade bitcoin, adding it to its asset infrastructure, deciding not to follow the general attitude of the traditional financial system, when many banks in the country refused to work with digital currencies. Earlier this year, a small Canadian bank, Versbank, also launched a cryptocurrency storage service.

Nevertheless, large banks around the world are still afraid of crypto currency and try to keep distance, some of them go so far as to forbid customers to buy cryptocurrency from the credit cards of their banks.

On the other hand, Switzerland is doing everything possible to attract blockchain-fintech start-ups. Last month, Cryptovest reported that the Swiss authorities are forcing banks to be more friendly to the crypto industry.