Swiss Bank Julius Baer Partners With SEBA Crypto AG To Offer Crypto Services
A major bank has just decided to offer crypto services for its clients. The Swiss private bank Julius Baer has started a new partnership with SEBA Crypto AG, a Swiss crypto startup focused on banking solutions.
The partnership was announced today and the bank affirmed that SEBA Crypto AG will use the platform in order to store and investment solutions for clients who are interested in the crypto world. The clients will deal directly with the bank but the crypto services will be provided by SEBA.
Now, the company is waiting for SEBA to get its official license from the government in order to become a proper banking and securities dealer in the country. The company is currently waiting for the Financial Market Supervisory Authority (FINMA) to approve it. The application was filed last year and the company has plans to get it until half of 2019.
SEBA is also planning on having its own Initial Coin Offering (ICO) in the second half of the year. Julius Baer has made an equity investment last year in the company as well, though the amount of the investment was not properly divulged.
In a separate but related statement, SEBA has affirmed that Peter Gerlach, an important figure at Julius Baer, as he works as the heard of markets there, should be a part of the company’s board soon. Gerlach has affirmed that he is fully convinced that digital assets will have major importance in the future and be a part of each investor’s portfolio.
The CEO of SEBA, Guido Buehler, has affirmed that the investment made it easier for the company to create value for its clients and to prepare for what was needed in order to start its business.
Good News For Crypto
The partnership will be very important for the crypto market in the country as huge institutions from all over the world are starting to look at the crypto world. Julius Baer is one of the largest financial conglomerates in the world, and it is the fourth to enter the crypto game: Fidelity, Nasdaq and the Intercontinental Exchange (ICE) did it first.
Switzerland has always been an important nation for crypto and this will make its presence even stronger than it originally was, as the company will sit at the side of Japan, South Korea, and Malta as one of the leading crypto nations.
Julius Baer is planning a further integration of its services with the crypto company in order to offer many new opportunities for its clients.
When you consider Mati Greenspan’s recent comment that the market has noticeably increased its share of institutional participation since last year, it becomes clear that we will have a great year for cryptos in 2019.