A Swiss company, Julius Baer is rising in the crypto market
The Swiss company, Julius Baer is now offering services for crypto-currencies. The company decided after the signing of an agreement with the Seba Bank AG for the introduction of a solution for the trading and safekeeping of digital assets. The information was released a few days ago in an official Blog Post.
The Swiss wealth management company Julius Baer has introduced in the framework of a partnership with the FINMA licensed Seba Bank is a digital asset trading and custody service. Julius Baer had gets announced in February of last year, for the first time, his intention to pull in the crypto-space, under the condition that the Swiss Start-up Seba – stops at the Julius Baer a minority stake – of the financial market Supervisory authority FINMA, a Bank and a securities trading license.
Seba was founded in April 2018 by former UBS bankers, and received in September of last year, the approval of the Supervisory authorities. Julius Baer offers its Swiss-booked clients a selection of services in the trading and safekeeping of digital assets, as well as a consolidated Portfolio-Overview of conventional and digital assets. Seba received the license from the FINMA, as one of the first crypto-banks that provide services in Switzerland. With the referred agreement, it will be Julius Baer is possible to use the Seba opportunities offered. The offered services also include safe storage and transaction solutions for customers who want to manage the crypto-currencies.
Seba has introduced in the past year, his services to both professional clients as well as for Cryptographic operations. In addition to the normal banking services they will also offer services to other investment products, property, values and Rights. The crypto-Bank is also well positioned, as its CEO last year, announced that it has added since the first 18 months of its establishment, 100 million Swiss francs (about 96 million dollars). In the meantime, the Bank plans to raise a second round, with a further 96 million dollars from financial institutions, Family Offices and wealthy individuals.
Julius Baer now offers crypto services
Wrote about the new Service, Julius Baer in the official announcement:
Julius Baer has expanded its services and includes services for digital assets, such as safe storage and transaction solutions, as well as consolidated Portfolio Overviews on conventional and digital assets.
In addition, the Bank will also provide access to a selected group of crypto-currencies, which are recognized due to their security, technical reliability, and tradability. The virtual currency, which they offer to the dealers and users are currently not mentioned in public. Nevertheless, one could assume that the Bitcoin (BTC), was included because it is the largest, oldest and one of the most traded virtual currency in the world.
The Seba Bank AG has its seat in the train, also known as the “crypto valley”. Here, companies offer from the crypto currency world, and the Blockchain-industry their services and products not only in Switzerland but also in other countries of Europe. In the future new banks and traditional financial could offer a company to begin their work and services in connection with digital assets. Switzerland is known for the fact that it has a very clear regulatory environment for companies that deal with virtual currencies.
Featured Image: Positiffy | Shutterstock
