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Creative minds from all over the world are establishing their companies in Switzerland. Why? Because this coun- try is home to any number of innova- tive start-ups displaying pioneering technological spirit, well-trained and talented staff who can think out of the box, and open-minded companies as well as local authorities creating fa- vourable parameters for a “crypto eco- system”. Ethereum, Cardano and Dfin- ity are just three out of more than 750 companies to have built up a leading position in Zug’s “Crypto Valley” thanks to blockchain technology.
Numerous crypto-currencies and cryp- to-exchanges have come to the atten- tion of the public over the last two years, and many crypto start-ups have launched crowdfunding initiatives to raise capital via Initial Coin Offerings (ICOs) based on blockchain technol- ogy. Although the peak of the crypto- currency market in 2017 was followed by a sobering market slump the follow- ing year, companies, investors and au- thorities have responded by embarking on a healthier, more mature trajectory.
In the wake of this latter development, many promising trends – such as the “fungibilization” of assets through the issue of “asset tokens” and the con- struction of blockchain-based smart contracts – have resumed their momen- tum. Specific application examples include the handling of international goods deliveries, the digitalization of ownership rights, and the trading of precious stones. This paradigm shift is also reflected in the development of not just ICOs but also Security Token Offerings (STOs).
Maerki Baumann – a crypto- pioneer in private banking.
Maerki Baumann is one of the first Swiss banks to draw up a strategy for establishing comprehensive crypto-services. The aim is to implement this strategy in three phases:
1. Business accounts and ICO/STO services
Young, innovative companies need bank accounts and financing if they are to realize their ideas and further develop their business models. With our range of services we support selected crypto start-ups and provide them with access
to financing opportunities by facilitating their ICOs/STOs.
2. Trading and custody
We are working on ways of offering our clients the ability to trade the most common crypto-currencies and hold these
in safe custody. To this end, we are in contact with a number of professional Swiss service providers that meet our high standards as potential partners from both a technological and regulatory perspective.
3. Investments in crypto-currencies
Although the future significance of crypto-currencies remains difficult to evaluate, we are convinced by the potential of blockchain technology. While the fundamental data and models remain incomplete, we nonetheless want to offer our clients additional medium-term investment opportunities via exclusive ICOs/STOs and crypto investment strategies.
Maerki Baumann is already open to the acceptance of assets that have originated through crypto-currencies – whether from exchange transactions, mining profits, or services provided in this sphere. In addition, crypto-com- panies can open business accounts and make use of ICO/ STO services. It goes without saying that we consistently apply the statutory and regulatory due diligence require- ments that are mandatory in this area.
Marco Müller
Head of IT & Digitalisation Maerki Baumann & Co. AG
Crypto-services
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