Despite rising competition from other countries seeking to capitalise on the cryptocurrency boom, Switzerland’s Crypto Valley looks poised to get its moxie back.
That’s because a second Swiss bank — the Zurich-based private bank Maerki Baumann — has agreed to form a banking partnership with cryptocurrency firms, solving a significant pain point for companies that operate in this industry. Financial publication International Investment first reported the news.
Beforehand, fellow Zurich foundation Falcon Private Bank was the most astounding profile Swiss bank offering administrations to blockchain organisations. A year ago, Falcon even started offering digital currency resource administration benefits through a cooperation scheme with Bitcoin Suisse AG.
Unlike Falcon, Maerki Baumann does not at present intend to offer cryptocurrency resource administration or custody administrations. Be that as it may, the bank as of late distributed a report on cryptocurrency in which it is understood to be "keeping an eye" on the asset class.
From their official report:
Maerki Baumann is watching out for the advancement of these speculation instruments and the relating progress on the regulatory side, without hoping to pick up exposure to this youthful resource class at present; this is genuine direct interests in digital forms of money, as well as investments in the essential innovation for the trading and custody of these instruments."
"Maerki Baumann, for the most part, is prepared to acknowledge and accept funds produced through cryptocurrency, be it through speculative transaction or as instalment received for services given or from mining benefits," the bank included.
So we just need a little more time until all banks start to Accept Cryptocurrency as a form of payment.
Sorry for providing the information source so late. I did not mean to make you think that I was the source of information.
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