The bank said it wants to support crypto and blockchain companies by offering access to infrastructure and by being a reliable banking partner.

Maerki Baumann, a Zurich-headquartered private bank, is closer to launching its Middle East hub in Abu Dhabi, confirming its plans to do so, as reported back in October 2024.

The Financial Services Regulatory Authority (FSRA) of ADGM has given the bank regulatory approval to open a branch in the jurisdiction, the bank said.

The bank, which says it has extensive experience of supporting hundreds of tech companies and individuals from the crypto community, is “aiming to support blockchain and crypto companies by offering access to essential financial infrastructure and by acting as a reliable banking partner.”

The new hub will operate under the “ARCHIP” brand, which unites the bank’s banking services for clients from the crypto community. These include corporate accounts, liquidity management and comprehensive services in trading, custody, staking and managing digital assets for private, institutional and corporate clients.

The bank said that having a local presence in Abu Dhabi makes its offering accessible to Web3 and other tech clients through local relationship managers. The services will be provided by the Tech Banking department in Zurich, which has extensive experience of supporting hundreds of tech companies and individuals from the crypto community. 

The Middle East hub is led by lawyer Andreas Froehlicher, who previously served as general counsel and head of legal and compliance at Maerki Baumann. He is based with his family in Abu Dhabi, reporting to Lukas S Risi, deputy CEO and head of private banking.

Maerki Baumann, founded in 1932, decided to enter the digital asset space in 2019. The bank has more than 100 employees and manages more than SFr12 billion ($15.4 billion) of client assets under management.