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Cryptocurrencies

Swiss bank announces support for crypto assets

Thursday 9 August 2018 | 12:01 PM CET

Maerki Baumann, a private bank based in Switzerland, has decided to accept cryptocurrency assets.

This decision makes the financial institution the second Swiss bank to accept crypto assets following Falcon Bank, which offers crypto-asset management services for Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, according to Econo Times.

Still, the bank is not offering direct investments in cryptocurrencies, but an alternative for clients who had to take their assets to other countries, such as Liechtenstein. Moreover, the bank will accept those crypto assets that have been received for a service or from successful mining. It is also ready to provide its clients with crypto experts if required.

Overall, Maerki Baumann remains largely sceptical of cryptocurrency investments and believes that they are they are not suited for long-term investment, the online publication concludes.

More: Link
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