2 Swiss banks have release crypto trading and custody after having gained regulatory approval. Maerki Baumann Bank has announced the launch of its trading platform for major cryptocurrencies while Incore Bank is offering a range of crypto services after gaining approval from The Swiss Financial Market Supervisory Authority (FINMA).
Maerki Baumann, a Zurich-based private bank with a dedicated crypto desk, has obtained 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 offer its clients the trading and custody of cryptocurrencies starting this month.
The bank’s trading platform will also support ERC20 tokens. “Maerki Baumann will initially offer trading in the principal cryptocurrencies, namely bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH), litecoin (LTC) and ripple (XRP)” it added.
On the other hand, Incore Bank has announced that the Swiss financial regulator has approved it to “trade, hold, transfer and generate (tokenize) digital assets. This makes Incore Bank the first Swiss business-to-business bank to offer financial service providers and institutions worldwide easy and secure access to a new and forward-looking asset class.”