Maerki Baumann & Co., a private bank based in Zurich, has announced the opening of a new branch in Abu Dhabi as part of its strategy to capitalize on the growing Middle Eastern market.
The expansion is focused on the blockchain technology and cryptocurrency sectors. The bank plans to apply for the necessary licensing with the regulatory authority of the Abu Dhabi Global Market free trade zone.
The new branch will cater to tech corporate clients in the Gulf region, particularly those involved in blockchain and crypto-related ventures. The bank aims to enhance its offerings in digital assets and has launched the crypto brand, ARCHIP.
Andreas Fröhlicher, the Head of Legal & Compliance, will lead the Abu Dhabi branch. The CEO of Maerki Baumann, Stephan A. Zwahlen, expressed optimism about the bank's presence in Abu Dhabi and its potential in the Middle Eastern market.
The Abu Dhabi branch will operate under the ARCHIP brand, which offers a comprehensive suite of crypto services including trading, custody, staking, and management of digital assets for private and institutional clients.
Maerki Baumann's expansion into Abu Dhabi reflects the recognition of the Middle East as a hub for blockchain and cryptocurrency innovation. The move also demonstrates the integration of traditional finance with emerging technologies.
The establishment of the Abu Dhabi branch is expected to contribute significantly to the region's financial ecosystem.