The cryptocurrency market has been going through some tough times as the market tries to recover from the wrath of the grizzly bear. However, that has not stopped Julius Baer, the international reference in Private Banking from collaborating with Switzerland-based SEBA Crypto AG, Digital Asset services.
The Private bank based in Switzerland invested in the Digital Asset platform and has initiated the partnership due to the growing demand amongst its users. SEBA was formed in 2018 by a former UBS employee, with its head office in Zug. According to a report by U.Today, SEBA works towards bringing together the world of old-school finances and the newly emerged crypto valuables through regulation.
Peter Gerlach, Head Markets at Julius Baer and proposed member to the Board of Directors of SEBA, 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 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.”
The Chief Executive Officer of SEBA, Guido Buehler further added,
“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.”
The bank aims at expanding its line of services in order to provide users solutions for investing in digital assets, including their transfer and storage-related concerns. However, the bank has to wait until SEBA gets a license from the local regulatory authority, FINMA.
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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.