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


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.”


InCore Bank expands its Digital Asset Brokerage to a 24/7 Banking Service with AlgoTrader


Swiss InCore Bank integrates AlgoTrader’s digital asset order and execution management platform WIRESWARM to provide its institutional-grade crypto and digital asset trading for its banking clients around the clock.

ZURICHFeb. 2, 2022 /PRNewswire/ — AlgoTrader and InCore Bank are proud to announce their new partnership focused on broadening access to the digital asset markets for banks and institutions. The partnership provides InCore Bank’s outsourcing and transaction banking clients with seamless access to the advanced order and execution management platform WIRESWARM – the flagship product of AlgoTrader.

Fully automated 24/7 digital asset banking

As part of the initial scope of the collaboration, InCore Bank integrated AlgoTrader’s digital asset trading platform into its existing infrastructure. A growing number of banks and institutional clients already using InCore Bank’s brokerage and custody services for digital assets now benefit from a fully automated 24/7 execution service for a broad number of cryptocurrencies and tokens.

The service is seamlessly integrated into the core banking solution of Finnova and into online banking applications, paired with near-real-time rates and valuations. As a further step in the implementation of its strategy, InCore Bank will offer at a later stage direct market access for banks, asset managers and UHNWI in combination with its banking-grade Swiss custody service.

Best execution and deeper liquidity

InCore Bank is now capable of establishing automated execution across a range of liquidity venues, including exchanges, brokers and OTC desks, using advanced trade execution strategies. This enables InCore Bank’s clients to benefit from best price execution for every trade. Furthermore, trading via WIRESWARM also offers a larger variety of instruments, giving clients access to a broader range of assets. This fits InCore Bank’s strategy to offer tokenized assets to institutional clients by using the Tezos and Ethereum blockchain.

AlgoTrader founder and CEO Andy Flury said «2021 was a record growth year for cryptocurrencies as institutional interest in crypto and digital assets surged. As such, the collaboration between AlgoTrader and InCore Bank aims to serve the continuously increasing demand while attracting more participants from the banking sector to the digital asset space. We also look forward to exploring ways of supporting emerging digital asset classes, such as tokenized real-world assets, in the future.»

Making digital assets accessible for institutional clients

InCore Bank CEO Mark Dambacher said «We are delighted to enhance our existing digital asset offering thanks to this cooperation with AlgoTrader. InCore Bank clients now have 24/7 access to deeply liquid global cryptocurrency markets through a range of venues, providing faster trading and settlement and supporting a wider range of assets. By making blockchain and cryptocurrencies more accessible and attractive to banks, there’s vast opportunity for future growth.»

AlgoTrader is the global leader in institutional-grade trading infrastructure, while InCore Bank is a one-stop business-to-business transaction bank offering a modular range of services for traditional and digital assets. Both organizations share the goal of making it easier for banks and institutions to onboard digital assets in a safe and compliant way.