One of the largest private banks in Switzerland, Julius Baer, is officially providing their clients access to cryptocurrencies through a strategic partnership with SEBA Crypto AG (SEBA), a cryptocurrency-focused bank bridging the traditional and crypto worlds.
— Julius Baer (@juliusbaer) February 26, 2019
Institutional Crypto Investment Is on the Rise
2019 is quickly unfolding as the year that some of the largest financial institutions delve into the world of crypto. Julius Baer is already the 4th major financial conglomerate to provide institutional access to crypto – following Fidelity, Nasdaq, and ICE, all of which have new crypto platforms set to launch this year.
While these institutions are launching their own crypto investment platforms, Julius Baer will utilize the innovative trading platform provided by SEBA to grant clients access to trading and investing in cryptocurrencies.
While the partnership between SEBA and Julius Baer is finalized, they are awaiting the FINMA banking and securities dealer license before officially going live with their cryptocurrency offering.
Per the official press release, Peter Gerlach, Head Markets at Julius Baer, said the Swiss banking giant believes cryptocurrencies are here to stay and will become a standard asset class of any investor’s portfolio:
“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 are proof of Julius Baer’s engagement in the area of digital assets and our dedication to make pioneering innovation available to the benefit of our clients.”
SEBA Crypto AG for Institutional Investors
SEBA is a high-profile, cryptocurrency-focused bank based in Switzerland that acts as a bridge between traditional financial institutions and the world of cryptocurrency. In September 2018, SEBA raised over $103 million from a multitude of investors, one of which was Julius Baer. Needless to say, they hope to strengthen their relationship in the months to come.
Expressing his gratitude over the Julius Baer partnership, SEBA CEO Guido Buehler said in a statement:
“We are very proud to have Julius Baer as an investor. SEBA will enable easy and safe access to the crypto world in a fully regulated environment. The cooperation between SEBA and Julius Baer will undoubtedly create value for the mutual benefit and to the clients.”
With Julius Baer’s move into the cryptocurrency sector through SEBA, the nascent asset class will be further legitimized as existing investors in the traditional financial market can comfortably buy and sell cryptocurrencies in a safe and regulated market.
When will we see the impact of the impending institutional investment? Will it be in 2019 or 2020? Let us know what you think in the comment section below.