Following Falcon Private Bank, Swiss bank Maerki Baumann also starts accepting digital coins.
According to the news reports, the Zurich-based private bank will deal with cryptocurrencies received as payment for services or from mining. The bank has decided to add cryptos seeing increasing demand and soaring popularity of these assets.
At the same time, the company stated that they would not provide services for direct investments into assets, though the bank is ready to act as a tutor for every interested party.
“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, ” stated the bank spokesperson.
However, Maerki Baumann believes that cryptos are not the best choice for long-term large investments due to persisting uncertainties, in particular regarding regulation.
For reference, last year Falcon Private Bank became the first Swiss bank that got permission to deal with digital coins.