One more Swiss bank starts dealing with cryptos

Posted 08 August, 2018

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.

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08 August, 2018 14:04

← UK FCA and other regulators set up Global Financial Innovation Network

The global financial regulators are creating an ally aimed at boosting the development of financial technologies, in particular, blockchain and DLT. The new network called the Global Financial Innovation Network will comprise the UK Financial Conduct Authority and 11 regulators from Hong Kong, the USA, Australia, the UK and other countries. 

UK FCA and other regulators set up Global Financial Innovation Network

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08 August, 2018 11:17

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