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    Swiss Private Banking Giant Julius Baer Adds Digital Asset Trading And Crypto Custody Services

    The major Swiss wealth management and private banking group Julius Baer just launched, in partnership with Seba, its new custodial and trading cryptocurrency services.

    The announcement was made on January 21, after the minority equity stake acquisition from 2018 and the partnership closed with Seba Bank AG, which happened back in February 2019. According to the announcement, Julius Baer’s entrance into the crypto space has been postponed because Seba had to be regulated.

    Julius Baer Says Crypto Services Are in Increasing Demand

    While not too many details on the offering have been given yet, it’s very likely Seba’s capabilities and platform are going to be used. In order to meet the rising need, Julius Baer will offer services such as crypto transaction solutions, custody of digital assets and overviews on a consolidated portfolio for both digital and traditional assets. According to their security, liquidity and technical robustness, the bank is going to select the most important cryptocurrencies. It hasn’t yet mentioned anything about the offered assets.

    Seba is Fully Regulated

    Seba was given its FINMA license at the same time with Sygnum. Back in December 2019, it started offering services to accredited and institutional investors from 9 new countries. It provides a wallet app plus banking and card facilities for more than 5 of the most important cryptocurrencies, such as Bitcoin (BTC), Litecoin (LTC), Ether (ETH), Ether Classic (ETC) and Stellar (XLM).

    Seba investors are also offered crypto to fiat and crypto to crypto conversion services. Furthermore, the bank gives enterprise accounts to blockchain companies and their employees. As reported, Sygnum is too looking to expand globally, as it’s in talk with regulators to obtain a license for banking in Singapore.

    Blockchain Technology Can Change the Financial Services Game

    Back in the fall of 2019, the chief strategist and head of research and investment solutions at Julius Baer, Christian Gattiker-Ericsson, said cryptocurrencies are in a “Darwinian” selection process, with the winner remaining to be determined. He also noted that blockchain technology can change the game when it comes to financial services.

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    Oana Ularu
    Oana Ularu
    Curious about what’s going on with all the money in the world, Oana is bringing you the latest news in the crypto world. She’s aware of the fact that you need to know everything that’s happening on the financial scene in order to play the cryptocurrency market, so you can count on her to share with you every little detail on what matters.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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