To enhance Swiss crypto offerings, Zurich-based private bank Maerki Baumann announced its partnership with leading crypto-financial service provider Bitcoin Suisse on June 6, 2024.
The collaboration will utilize the crypto expertise of Bitcoin Suisse in managing its crypto investment solutions and expand the bank’s existing offering in the area of digital assets.
While this collaboration marks a pivotal moment in the integration of traditional banking with the world of crypto, traditional Swiss banks have indicated in the recent past that they are willing to include crypto.
Recently, UBS, the largest Swiss banking institution, officially acquired Bitcoin Exchange-Traded Funds (ETFs), including cryptocurrency in traditional finance.
Read more: Largest Swiss Bank UBS Embraces Bitcoin, Institution Acquires BTC ETF
Bitcoin Suisse x @MaerkiBaumann
We are excited to share that Bitcoin Suisse and the Zurich-based private bank Maerki Baumann & Co. Ltd. have entered into a cooperation.
Bitcoin Suisse Chairman @Luzius Meisser, expressed his enthusiasm about the new arrangement: “Together, we… pic.twitter.com/gEXjX1MtZP
— Bitcoin Suisse (@BitcoinSuisseAG) June 6, 2024
Bitcoin Suisse Brings Crypto-Related Expertise, Maerki Baumann Gives Access To Private Banking
For Maerki Baumann clients, the partnership will enable the private bank to leverage the proven crypto expertise of Bitcoin Suisse in managing its digital assets investment solutions.
Under Maerki Baumann’s “Joint Crypto Advisory Board,” clients of Bitcoin Suisse will gain access to private banking services for traditional assets.
Commenting on the partnership, Stephan A Zwahlen, CEO of Maerki Baumann, said, “The collaboration between Bitcoin Suisse and Maerki Baumann reinforces our strengths by allowing both companies to focus on their core competencies.”
Meanwhile, Luzius Meisser, Chairman of the Board of Directors of Bitcoin Suisse, said, “Together, we create a robust bridge in both directions, enabling crypto natives and traditional investors alike to diversify their portfolios across a wider spectrum of assets with the guidance of relevant experts.”
Explore: 3 Ways to Buy Bitcoin with Apple Pay
Navigating The Swiss Regulatory Framework
Switzerland is known for its robust regulatory framework for digital assets.
By partnering with Bitcoin Suisse, Maerki Baumann can leverage the latter’s expertise in navigating the complex regulatory landscape, ensuring compliance with Swiss laws and regulations.
Recently , Switzerland issued a report expressing interest in implementing the Cryptocurrency Asset Reporting Framework (CARF) – designed to provide clear guidelines for both individual investors and businesses dealing in crypto.
Read more: Switzerland Considers Implementing Global Crypto Reporting Framework To Aid Transparency
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
