Maerki Baumann, a private-owned bank in Switzerland, is introducing crypto custody and trading.
Maerki Baumann, a Zurich-based private bank, stated Friday that it has acquired a license from FINMA “to offer the trading and custody of cryptocurrencies as well as other digital assets (tokens).” With this new license, the bank will allow its clients the trading and custody of cryptocurrencies starting this month. its trading platform will also support ERC20 tokens.
At the initial launch, Maerki Baumann clients will be able to trade five major cryptocurrencies including Bitcoin, Ether, Ripple, Bitcoin Cash, and Litecoin.
Maerki Baumann is amongst the pioneer adopters of the crypto and blockchain technology in Switzerland. In August 2018, the bank reportedly became the second Swiss bank to accept digital assets.