Leading Swiss Bank Announced Legal Support For Crypto-Related Service

Leading Swiss Bank Announced Legal Support For Crypto-Related Service

 

Major Swiss financial institution Julius Baer aims to allow operations with digital assets for its clients, thanks to the partnership with the blockchain startup SEBA Crypto AG. The new service, allegedly, will be provided “in a fully regulated environment.”

One of the biggest Swiss banks, Julius Baer, is about to launch a crypto-related service for its clients, according to the official statement made by the institution. It has become possible due to the collaboration with the local crypto-focused bank SEBA Crypto AG.

The partnership followed an early-stage minority equity investment in 2018 made by the Julius Baer. As the company underlined in a statement, “SEBA is a pioneer in the financial industry, building a progressive technological bridge between the traditional and the digital asset worlds.” Totally, SEBA claims to raise over $100 million during the investment round last Autumn.

After obtaining a regulator’s banking and securities dealer license by SEBA, Julius Baer will start providing storage, transaction and investment solutions for digital assets.

Julius Baer representative Peter Gerlach said:

“At Julius Baer, 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 Julius Baer’s engagement in the area of digital assets and our dedication to making pioneering innovation available to the benefit of our clients.”

CEO SEBA Guido Buehler added that his company will “SEBA will enable easy and safe access to the crypto world in a fully regulated environment.”

Also read: Swiss Regulatory Body Assigns 800% Risk Weight on Cryptoassets