InCore Bank signs Maerki Baumann as first client for Ethereum staking, powered by SDX

ZÜRICH, April 6, 2023 /PRNewswire/ -- InCore Bank will offer Ethereum (ETH) staking to their clients using SDX Web3 services. ETH staking will become an important yield opportunity when the upcoming Shapella Release is implemented as this will enable the withdrawal of ETH coins that are allocated to staking. 

InCore Bank can now offer Ethereum staking capabilities that are fully compliant with Know-Your-Client (KYC) and Anti-Money-Laundering (AML) regulations. In this collaboration, InCore Bank provides crypto brokerage, banking operations and custody services, while SDX Web3 provides crypto custody and non-custodial-staking services.

The Zurich-based private bank Maerki Baumann launched its crypto strategy in 2019. Apart from corporate accounts for companies focusing on blockchain technology and crypto applications, it offers services in crypto trading and custody in collaboration with InCore Bank. Maerki Baumann will continue expanding its crypto offering by making the new Ethereum staking services available to its private and corporate tech banking clients.

Mark Dambacher, CEO InCore Bank, stated, "We perceive an increasing interest in staking and ways to participate in the decentralized economy. InCore Bank's fully integrated and future-oriented staking services via segregated wallets, enable us to offer staking within a convenient, secure, regulated and tax compliant setting. We are proud to be part of this strategic alliance with SDX".

David Newns, Head of SDX adds: "This collaboration between established digital asset institutions is the first of its kind in Switzerland. We are strengthening the Swiss digital asset ecosystem by enabling key market players to provide value adding capabilities like Ethereum custody and staking their clients are asking for."

About InCore Bank

InCore Bank is a B2B transaction bank founded in 2007 and trusted by numerous private banks, securities firms, asset managers, institutional investors and fintech companies. In 2020, InCore Bank became the first B2B bank to receive FINMA approval for banking services with digital assets.

About Maerki Baumann

Maerki Baumann & Co. AG was founded in 1932. For generations, it has focused on its core competencies in the areas of investment advice and asset management as well as in serving independent asset managers.

About SDX Web3 Services

SDX Web3 is a newly founded business line focusing on supporting our clients' Web3 activities. As part of SIX, SDX Web3 is subject to the Group's high quality and security standards in providing institutional grade infrastructure services.

SOURCE SIX Digital Exchange (SDX)

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