New Cryptocurrency Software Unveiled By Julius Baer For Blockchain Opportunities
A report made today Wednesday, September 12th regarding Julius Baer Group stated they would be releasing their very first cryptocurrency product to support the industry. The Swiss banking institution is considered by many to be the most significant financial asset management firm in the world, and now preparing to release their first cryptocurrency software ever.
According to the report made in recent company documents the company will be moving is now using a Block Asset Management-software product to help the new launch. If you’re not familiar with it, block asset management is a well-known asset management firm in the cryptocurrency sphere.
The newly developed software soon to be released by the company is regulated by FINMA, the Swiss Financial Market Supervisory Authority. They make it clear, that in no way will anyone using the investment product about to be released will have to deal with any Swiss laws regarding cryptocurrency. They will also not be at risks of any associated credit risks that may arise from using the software.
As for Julius Baer, the company is releasing some 20,000 products at a $1,000 a piece for a massive return of $2,000,000 to start. The official release date of the new software product will be mid-October of 2018 on the 16th. At that time, the company will determine the initial value and assets during the time of release, according to the investment management firm. A recent Tweet by the company encourages users that staying away from the cryptocurrency industry is a bad idea for anyone.
While the release date is said to be mid-October, issuing will not occur until the end of the month on the 30th. That means anyone who purchased it will receive the software at that time and then must pay the full price tag of $1,000. There is also a subscription length of the subscription is said to start on the 16th of August and go until the 16th of October CET.
The of launch Baer's new product is a remarkable event since it marks a significant banking institution’s move into the cryptocurrency sphere, especially considering that until now Julius Baer spoke out against cryptocurrency. Even though they have previously brushed off cryptocurrency as nothing essential to shake a stick at, they are now moving into the industry with the soon to be released product.
What do you think of the move by Julius Baer? Will you use the new product they are releasing? Leave your answers in the comment section below.