The Swiss private bank sector is accelerating its moves to become a more formidable global player in the space. Julius Baer declared on February 26 that it would provide services to all esteemed across the globe.
Switzerland’s third-largest bank partnered with SEBA Crypto AG, a Zug-based startup, to exploit their institutional-grade cryptoassets solution. The financial institution noted in a press release that the vital partnership with SEBA would enable them to provide its storage, transactions as well as investment solutions.
Closing the Gap Between Traditional and Crypto
SEBA aims at creating a financial market supervisory authority (FINMA) administered and liberal technological conduit between the traditional (fiat) and cryptoasset worlds.
The effort follows a significant integration of assets by another giant financial institution to their platforms. Before Julius Baer, Switzerland-based Falcon Private Bank had also earlier declared that it would allow its to , buy, sell and invest such as ,
, Dash, Maker,
,
, Cash, , and many more.
Moreover, last week, other banking bulls JPMorgan and
Financial Group proclaimed that they would roll out their for remittance and internal payment settlement. JPMorgan was planning to launch
. In August 2017, another giant in the banking sector known as
Private Bank also declared that it would be allowing digital assets.
Crypto will Become Legitimate Asset Class
In a statement, the Head of Market at Julius Baer, Peter Gerlach, commented:
“We are convinced that digital assets will become a legitimate, sustainable asset class of an investor’s portfolio. The investment into SEBA as well as our strong partnership is proof of our engagement in the area of digital assets and our dedication to make pioneering innovation available to the benefit of our clients.”
In addition, Swiss stock exchange Six has been providing a -heavy digital currency ETP for some time and is now considering its own security offering (STO) before 2019 ends.
The involvement of significant
banking ventures will impact and play an important role in the landscape including boosting the value of
.
Published at Wed, 27 Feb 2019 14:16:49 +0000
