Swiss Private Bank Says 400 New Clients Demanding Crypto Products
Marie Huillet's original article for cointelegraph.com reduced by 46%
Swiss private bank Maerki Baumann has had a deluge of over 400 new clients wanting to tap its future blockchain offerings since it revealed its interest in the sector. Bid to be "The go-to private bank" in Swiss crypto. Zwahlen said that Maerki Baumann has "The ambition to be the go-to private bank in the Swiss crypto arena," underscoring that banking support for the nascent industry remains a fraught issue in the country.
The third stage of Maerki Baumann's planned crypto business will be to provide advisory and asset management services for private banking clients who want to invest in new crypto assets such as tokenized shares. "I would expect over time that digital assets such as crypto/blockchain might even take on a greater significance than our traditional private banking business, particularly in terms of asset growth." Maerki Baumann won't be taking Bitcoin directly onto its books the CEO revealed, noting that the bank always outsources trading, clearing and settlement processes. In summer 2018, Hypothekarbank Lenzburg became the first Swiss bank to provide enterprise accounts for blockchain and crypto-related fintech companies.
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Summarised crypto news.