Rajarshi Mitra
Independent Analyst
- Maerki Baumann, a Swiss bank, is launching crypto custody and trading services soon.
- The bank noted that the new crypto features come in line with Maerki Baumann’s crypto strategy initiated in 2019.
- Maerki Baumann CEO said that the new services would enable investment opportunities for institutional investors.
Maerki Baumann, a Swiss bank, is launching crypto custody and trading services soon. Following approval from the Swiss Financial Market Advisory Authority (FINMA), the bank will offer the crypto services.
The bank noted that the launch of the new crypto features comes in line with Maerki Baumann’s crypto strategy that was initiated back in 2019. As part of this strategy, the bank has been offering business accounts for blockchain companies. It has been providing advice for startups working on their initial coin offerings and security tokens offerings.
At the initial launch, Maerki Baumann customers will be able to trade five major cryptos, including Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH) and Litecoin. They can also trade other ERC-20-based digital assets.
The bank is partnering with some established organizations to handle crypto trading. The trading orders placed with Maerki Baumann will be processed through liquid crypto exchanges, professional crypto bankers and banks, including InCore Bank AG.
Maekri Baumann said:
This will ensure that transactions can be rapidly executed and with a narrow trading spread.
The CEO of Maerki Baumann, Stephan Zwahlen, said that the new services will enable investment opportunities for institutional investors.
With the trading and custody of digital assets, not only are we tapping into a new business area, we are also creating additional investment possibilities for our core business. This will benefit younger, tech-savvy client segments as well as private and institutional clients who would like to seek out new sources of return in the digital sphere or further diversify their portfolios.
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