Incore Bank

Incore Bank received FINMA approval in 2020 to trade, hold, transfer and create digital assets, and it calls itself one of the first Swiss business-to-business banks with such an approval. According to finews.ch, the private bank Maerki Baumann was the first client bank ready to use the service at that time. Today Incore serves banks, securities firms, fintech companies, foundations and corporate clients, and its website addresses only legal entities based in Switzerland.

Clients trade digital assets through one central platform, which uses smart order routing to reach liquidity around the clock. Incore lists bitcoin, ether, Solana and the dollar stablecoins USDC and USDT among the tradable assets. Orders arrive through e-banking, by telephone or through a FIX interface, so a bank can connect its own systems directly. A client bank can thus offer crypto trading without a separate connection to each exchange.

For crypto custody Incore uses its own storage system for private keys, spread over several locations, with offline backups at secured sites of Mount10. Every transfer passes an approval process with several authorization levels, and the custody service holds a SOC 2 Type II certification with regular audits.

Clients can stake ether, Solana, Cardano and Polkadot through Incore, which manages each stake directly instead of pooling it. According to the bank, this direct setup means no Swiss withholding tax is due on the rewards. Incore names the third quarter of 2026 for the start of a direct connection to BX Digital, where tokenized assets trade.

In December 2022 Incore and Entris Banking, a service provider for small and medium-sized Swiss banks, agreed to work together on digital assets. Valiant launched crypto trading and custody on this basis in July 2023, as the first bank of the Entris Banking group, and its clients now trade bitcoin and ether in Valiant e-banking. On its website Incore also lists AMINA Bank and Crypto Finance among its clients and partners.

Incore Bank AG has its seat at Wiesenstrasse 17, 8952 Schlieren, just west of the city of Zurich. Maerki Baumann founded it in 2007 as a transaction bank for brokerage and outsourcing, and in 2017 SOBACO Holding took a majority of 51 percent and merged the bank with SOBACO Solutions. In 2025 Incore Holding bought the remaining 49 percent from Maerki Baumann Holding, so the group now owns the bank alone. Until its rebranding the bank wrote its name InCore Bank, a spelling that older reports still use.

Client assets in custody grew by about CHF 1.2 billion to CHF 13.9 billion in 2025, and income from brokerage and custody rose by almost 30 percent to CHF 7.11 million. Net profit fell by 79 percent to CHF 0.75 million, mainly because interest income dropped, according to the annual report. Peter Haist chairs the board of directors, and Mark Dambacher is the CEO of the bank.