Maerki Baumann

History

2020: Obtaining permission to trade in cryptocurrency

In the middle of June, 2020 the Swiss finance regulator permitted two banks to offer in Zurich a broad spectrum of cryptocurrency services, including their trade and storage.

The Maerki Baumann private bank is ready to offer the clients trade and storage of cryptocurrencies. Originally the bank starts the platform for trade in the main cryptocurrencies, namely bitcoins (BTC), bitcoin cash (BCH), "air" (ETH), litecoins (LTC) and a riplama (XRP).

To Swiss Banks permitted to trade in cryptocurrency

In addition to providing commercial accounts for the companies which are engaged in enciphering and a blockchain, the bank also controls initial placement of coins (ICO) and placement of investment tokens (STO). Besides, the bank stated the next plans for further expansion of the range of cryptocurrencies and the corresponding services in the second half of 2020.

The second bank which got permission to providing cryptographic services is the Incore bank with the main office in Zurich. It is transaction bank which provides outsourcing services for financial institutions, such as calculations, storage, payments, accounting and tax support. Among his clients also the Maerki Baumann bank is registered.

In June, 2020 Incore created division of digital services to offer "a full range of cryptocurrency services from release and distribution before broker services and storage". The bank also cooperates with several companies in crypto - the sector, such as Swiss company Crypto Finance AG.

The Incore bank also reported that it is going "expand broker, depository and transfer services for investment tokens", having noted that it cooperates with the independent Swiss company on crypto - to consulting of Inacta AG for development of additional services in the field of tokenization of assets.^[1]

Notes