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Two Swiss Banks Receive FINMA Crypto Services Approval

Anna Martynova

Swiss private bank Maerki Baumann will now be able to offer its customers crypto custody and trading services. It is possible due to the approval of the Swiss financial market regulator FINMA, which the bank has recently received. The credit institution plans to launch a trading platform for BTC, BCH, LTC and XRP.

Recall that since April 2019, Maerki Baumann has been offering business accounts for blockchain companies. Now, having received the necessary license, the bank has the opportunity to gradually extend the range of its services starting from the second half of 2020.

The second bank recently authorized by FINMA to provide crypto services was Incore Bank, based in Zurich. Previously, a credit institution provided outsourcing services for financial institutions, such as settlements, custody, payments, accounting and tax support. On Friday, Incore Bank announced that the Swiss financial regulator has approved the sale, storage, transfer and tokenization of digital assets.

Image courtesy of InfoFX

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