Swiss Bank Maerki Baumann Will Accept Cryptocurrency Firms as Clients

Despite rising competition from other countries seeking to capitalize on the cryptocurrency boom, Switzerland’s Crypto Valley looks poised to get its moxie back.

Swiss Bank Maerki Baumman Will Offer Accounts to Cryptocurrency Firms

That’s because a second Swiss bank — the Zurich-based private bank Maerki Baumann — has agreed to form banking partnership with cryptocurrency firms, solving a major pain point for companies that operate in this industry. The news was first reported by financial publication International Investment.

Previously, fellow Zurich institution Falcon Private Bank was the highest-profile Swiss bank comfortable with offering services to blockchain companies. Last year, Falcon even began offering cryptocurrency asset management services through a cooperation agreement with Bitcoin Suisse AG.

Unlike Falcon, Maerki Baumann does not currently plan to offer cryptocurrency asset management or custody services. However, the bank recently published a report…