Switzerland seem to be interested in how crypto markets are coming to form. While their expertise still has room for growth, their eagerness to support clients in what many see as a market in demand has been evident. In addition to the country’s Hypothekarbank Lenzburg being the first bank to offer blockchain and crypto related services, the second bank to follow suit is supposedly that of the Maerki Baumann.

As per a news platform dubbed, International Investment, the private bank will be accepting cryptocurrencies as a mean of payment for services performed. In addition, support will also be given to income earned via crypto mining.

The report published Monday, August 6, revealed that Maerki Baumann will not necessarily promote crypto services, as they lack the necessary knowledge to do so, however, they do plan to offer customers with “experts” who might help direct novice investors towards an appropriate path.

In particular, the bank stated that:

“We currently see cryptocurrencies as alternative investment vehicles, but we have limited experience and data,” adding that they still need to better understand several aspects of the market including the likes of “prices, volatility [and] trading volumes.”

International Investment has also pointed out that the private bank advises against putting large sums of money into such a volatile market, as its unpredictability and lack of market capitalization could possibly be troublesome.

As per the bank’s quote:

“Cryptocurrencies are not, in our estimation, suitable long-term investment due to the uncertainties outlined above.”

Clearly, Hypothekarbank Lenzburg made the first step towards getting more banks involved. While it is evident that banks are still hesitant of the crypto sphere and what it will come to over the long run, their willingness to explore what’s in demand is praiseworthy, and reflects a great step on behalf of Switzerland.

Get Free Email Updates!

*Action Required* Enter Your Email for Trending Crypto News & Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \\ Investment Disclaimer

Coin Market Cap Price Change 24 Hour Volume
BTC $139.93B $7,897.1133 3.18% $5.99B
ETH $26.33B $247.9120 3.62% $2.85B
XRP $16.05B $0.3811 3.20% $459.18M
BCH $7.25B $407.3864 6.05% $510.58M
LTC $5.83B $94.1182 7.86% $657.14M
EOS $5.71B $6.2500 6.10% $680.55M
BNB $4.54B $32.1615 4.68% $289.36M
USDT $2.98B $1.0036 0.00% $5.82B
XLM $2.42B $0.1253 3.64% $57.01M
ADA $2.11B $0.0813 7.16% $70.61M

Get 3 Free Bitcoin eBooks for Limited Time Only

Receive three exclusive user guides detailing a) What is Bitcoin b) How Cryptocurrency Works and c) Top Crypto Exchanges today plus a bonus report on Blockchain distributed ledger technology plus top news insights.


Please enter your comment!
Please enter your name here