The new crypto trading service of the private Swiss bank Maerki Baumann highlights an increase in institutional or wealthy customers within the market, which requires premium applications.
The goal is to reach institutional investors and HNWIs
The Swiss agency said that its new crypto trading and custody service would provide customers with the best trading experience in a post from last week.
"The trading orders placed with Maerki Baumann are addressed to professional cryptocurrency brokers and the largest and most liquid cryptocurrency exchanges in the world through proven partner companies," announced Maerki Baumann.
"This ensures that transactions are executed quickly and with a limited trading interval between the buy and sell price (spread)." Maerki Baumann's clientele includes institutional investors and high-net-worth (HNWI) entities. Maerki Baumann was among the first institutions to adopt crypto and blockchain technology in Switzerland.
The bank has been offering corporate accounts for qualified cryptocurrency activities since its first entry into the crypto space in April 2019. Regulated by the Federal Financial Market Supervisory Authority (FINMA), the new offering will enter into force this month.
In the initial phase, 5 of the best known cryptocurrencies on the market will be available: bitcoin (BTC), bitcoin cash (BCH), XRP (XRP), litecoin (LTC) and ether (ETH). The bank said it will gradually expand its list of supported assets based in part on customer feedback.
Premium services growing across the crypto landscape
The premium cryptocurrency services designed for a selected and exclusive clientele represent a growing and profitable market. Just last month, FalconX - a company that offers the best commercial execution to institutional and professional clients with a minimum of $ 10 million in asset under management (AUM) - raised over $ 17 million in pre-seed and seed round funding .
Reading the description, FalconX's offering seems almost identical to that of Maerki Baumann. Both are linked to lists of multiple cryptocurrencies, offering customers an overview of the market that allows them to transact at the best available price and with minimal slippage.
And they are not the only ones. Coinbase, Genesis Trading and BitGo have all planned to become prime brokers to provide specialized trading services for institutional investors, including best trade execution.
Maerki Baumann has already said that his new crypto trading and custody offering may be just the beginning of a new project. The bank, in fact, aims to offer some of its private banking products to its crypto clients and launch a new crypto investment service. This could possibly include investment opportunities directly in selected blockchain companies.
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