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Swiss Banks Offering Accounts to Crypto Companies

03 Oct, 2023
Updated: 06 Mar, 2024

One of the questions we get asked the most from new VASPs is which Swiss bank they can get an account at. By 2023, many Swiss banks offer crypto-asset banking services and even more offer bank accounts to crypto companies. Not all are publicly known to do so. And even those who do, will not do it for every company. 

If your company only has its PO box in Switzerland or has made a token sale, getting a bank account is generally much harder. For good reasons: The risks for the bank (and with that, its costs) might be way higher than the potential revenue.

Below, we have compiled a list of banks that offer crypto-asset banking services with additions of banks known to provide accounts for crypto companies. 

Crypto asset banking services can include:  

  • the exchange of crypto to and from fiat,

  • the exchange of crypto assets to and from another crypto asset

  • the transfer of crypto assets,

  • the safekeeping and/or administration of crypto assets, amongst others. 

Swiss Banks Offering Accounts to Crypto Companies

Institution Crypto Services
Arab Bank Yes
BBVA SwitzerlandYes
Dukascopy Bank SAYes
Hypothekarbank LenzburgNo
Luzerner KantonalbankYes
Kaleido PrivatbankYes
Maerki Baumann & Co.Yes
Schwyzer KantonalbankNo
St.Galler KantonalbankYes
Valiant BankYes
Zuger KantonalbankYes
Zürcher KantonalbankNo

But be warned: Just because the bank is on the list does not mean it will be easy for you to get an account there. It only means that it is possible. If you need more help, feel free to contact us at info@21analytics.ch.

Why Use a Crypto-Friendly Bank

Storing one's assets in a self-hosted wallet is still one of the safest methods to hold crypto assets, but to transact or convert to fiat, a trusted crypto-friendly bank is the way to go.  A crypto-friendly bank facilitates transactions, making buying, selling, or trading cryptocurrencies easier.

Cryptocurrencies still operate in a regulatory grey area in many countries. A crypto-friendly bank is more likely to understand and comply with relevant financial regulations, reducing the risk of an account being frozen or investigated. Moreover, as with all assets - digital or physical - having a bank that understands the investment can provide an added layer of security. 

Some crypto-friendly banks offer investment products related to cryptocurrencies, such as crypto-backed loans. This can help companies access funds without selling the assets.

For crypto-related business owners, a crypto-friendly bank can be essential. They can assist with business banking services, including receiving cryptocurrency payments and managing financial operations.

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