The Swiss private Bank Maerki Baumann starts accepting cryptocurrency assets, becoming the second institution in the country that work with the funds, “generated” Cryptoprotected.
According to International Investment, the Bank will make funds in the cryptocurrency received “as payment for services rendered”, and also earned through mining of virtual currencies.
The publication explains, this step is called “new market needs” and the growing popularity of “new forms of money” — customers are actively looking for alternative investment instruments.
In CuriousCat Maerki Baumann noted that speech does not go about direct cryptocurrency investment, however, customers interested in this area, will be able to get a Bank advice of “experts”. Institution “closely monitoring” the development of cryptocurrency as a new investment instrument and the formation of a “base control” field.
“At the moment we are considering crypto-currencies as alternative investment tools, however, the experience and data that we have (of course, volatility, volume of trading) limited”, — stated in the message of the financial organization.
On the other hand, the Bank recalls the risks associated with investing in the young industry, noting: “currently, we don’t suggest making a large investment in cryptocurrencies”.
“Crypto-currencies according to our estimation, not suited for long term investing due to a number of uncertainties,” write the experts of Maerki Baumann.
It is interesting that at the end of July the Swiss online Bank Swissquote, offered to invest in the virtual currency, said about 44 percent of the income gains in the first half.
Also, last year the ability to purchase and store multiple cryptocurrencies provide its clients with other private Swiss Bank Falcon Private Bank.
And yet, as noted by International Investment, consumers are considering the option of investing in cryptocurrencies, often looking for the most appropriate conditions abroad — mostly in neighboring Liechtenstein.
In response to the growing demand in June Hypothekarbank Lenzburg became the first Bank in Switzerland has announced its readiness to open a business account on blockchain and FINTECH startups-companies that work with cryptocurrency.
It is noteworthy that the largest financial holding in the country, UBS Group AG, which is actively developing its own blockchain solutions are in no hurry to take on the obligations related to existing virtual currencies. Recently, the UBS experts has presented a report according to which while bitcoin is neither money nor a viable asset class”.
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