Bitcoin, Cryptocurrency And Blockchain News

Maerki Baumann Become Second Swiss Bank to Accept Crypto Assets


A second Swiss bank has taken the plunge and started accepting crypto assets, as reported by International Investment this Monday (6th August). Now, Maerki Baumann have joined Falcon Private Bank as the Swiss revolution continues. Based in Zurich, the private bank specialize in asset management and have been family-run for 80 years, with an estimated management of over 7 billion Swiss francs.

However, the bank is providing expert advice rather than direct investment opportunities at this stage, and crypto holdings must derive from payments received for a service rendered, such as mining. Maerki Baumann cite a lack of experience and data, as well as volatility as reasons for limiting what they offer to begin with. The bank’s statement included a fuller explanation of this:

“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… In general, we currently advise against larger investments in cryptocurrencies. Cryptocurrencies are not, in our estimation, suitable for long-term investment due to the uncertainties outlined above.”

It certainly seems like a number of major firms are on the move at the moment. Malta and Switzerland are leading the way inside Europe, Germany are also making big steps forward, and possibly the biggest news in recent times is that of “Bakkt”, the exchange being launched by the International Exchange – the owner of the New York Stock Exchange. If there is to be widespread mainstream adoption, there are certainly a lot of large organizations at the front of the queue to make it big the moment that laws are passed.

What do you think of this latest move? Is it a sign of the ongoing legitimization of crypto assets? Let us know your thoughts.