Swiss bank Julius Baer has announced the launch of services related to digital assets through its collaboration with SEBA Bank AG, which actually became effective in February 2019.
SEBA Bank was authorized to operate with cryptocurrency trading last August by FINMA, the Swiss financial regulator.
This authorization made it possible for Julius Baer to expand its services. The bank is now able to offer its clients a selection of products related to digital assets using the platform and features of SEBA Bank.
Baer will, therefore, offer a custody service and trading solutions, although it will provide access to a small group of cryptocurrency products, chosen for features such as negotiability, security and technical reliability.
SEBA Bank is currently distinguishing itself as a bank that is able to offer its customers both traditional assets as well as innovative products such as cryptocurrencies. Customers can already use the SEBA wallet and the SEBA card to manage cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Stellar (XLM), Litecoin (LTC) and Ethereum Classic (ETC).
The partnership with Julius Baer will allow SEBA to broaden the reach of its products worldwide. Julius Baer is based in Zurich but is present in 25 countries around the world with over 60 locations, including Dubai, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Mexico City, Milan, Monaco, Montevideo, Moscow, Mumbai, São Paulo, Singapore and Tokyo.
Operating since 1890, it is listed on the SIX Swiss Exchange and is a leader in the asset management industry. The decision to open up to the world of cryptocurrencies and digital assets demonstrates a strong commitment to innovation.
Switzerland is once again proving to be a cradle for the crypto sector. As a result of cutting-edge regulation, it was even chosen by Facebook, which made it the headquarters of the Libra Association, and it is still a country where the launch of new ICOs continues despite the hype of 2017 being long overdue.