Swiss bank starts accepting funds from cryptocurrencies

This decision makes them the second Swiss bank to accept funds (FIAT) coming from this type of operations after Falcon Private Bank announced they would begin to offer this option back in July 2017.

This decision is due to the fact that many people began to see the difficulties in being able to safeguard their money earned by activities with cryptocurrencies within the borders of Switzerland. The great majority chose to take them to Bank Frick of Liechtenstein, which accepts said funds and provides support with investments in cryptocurrencies.

The general position of the bank for its users in terms of cryptocurrencies is not to recommend large investments because they do not consider cryptocurrencies an adequate long-term investment instrument due to the volatility of these assets. While Maerki Baumann does not provide direct investments with cryptocurrencies, they are prepared to start offering financial experts to their clients if necessary.

The rest of the country’s financial institutions refuse to allow this type of transactions because they consider that these assets may come from illegal activities or because it is difficult to verify if they comply with anti-money laundering regulations.