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Swiss Bank Maerki Baumann to Become Second in Country to Accept Cryptocurrency Assets

Swiss Bank Maerki Baumann to Become Second in Country to Accept Cryptocurrency Assets

The Maerki Baumann private bank will become the second Swiss bank to accept cryptocurrencyassets, financial news outlet International Investment reports August 6.

The private Zurich bank has decided to accept crypto assets from payments received for services rendered, as well as those earned from crypto mining, as a response to new market demands and the rise of cryptocurrencies’ popularity, International Investment writes.

Maerki Baumann noted that they are not ready to provide direct cryptocurrency investments, but will provide “experts” to clients interested in crypto investing. According to their statement, the bank “closely monitors the development” of crypto as an investment vehicle and its “underlying regulation,” noting

“We currently see cryptocurrencies as alternative investment vehicles, but we have limited experience and data (prices, volatility, trading volumes) available in our house.”

However, the bank does state that they “currently advise against larger investments in cryptocurrencies,” adding

 “Crypto currencies [sic] are not, in our estimation, suitable for long-term investment due to the uncertainties outlined above.”

Earlier this summer, the Hypothekarbank Lenzburg had become the first bank Switzerland to provide company accounts for blockchain and crypto-related fintech companies. Last year, the Falcon Private Bank had received authorization from the Swiss Financial Supervisory Authority (FINMA) for managing Bitcoin (BTC) and other cryptocurrencies based on blockchain technology.

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About Howard Mahere

I'm a Bitcoin/Cryptocurrency enthusiast ; motivator; author of "AN IMMIGRANT WITH A PLAN" and a John C Maxwell certified speaker . Happily married to Emely and a father to one son and two daughters. My greatest joy comes from inspiring others to maximize their potential. I feel fulfilled when I bring hope to the hopeless and encouragement to the discouraged. The truth is, we each have a past, and it's either our prison, our excuse OR our springboard to a brighter future. The choice is yours but as for me, I made up my mind a long time ago to use my dysfunctional tough childhood as a stepping stone . The late Zig Ziglar used to say "It's not what happens to you that determines how far you will go in life, it is how you handle what happens to you." This is my story and I am sticking to it!
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