One of the major Swiss banks launched crypto banking services
Despite the regulatory challenges and price volatility, Swiss banks rush in to diminish the gap between the fiat and cryptocurrency worlds. February 26, following the announcement made by Falcon Bank, Julius Baer, the third largest bank in Switzerland, has announced that it’s launching a platform to provide banking services to cryptocurrency and digital asset holders. This leading-edge solution became possible thanks to their collaboration with SEBA Crypto AG, a pioneer of the financial industry that has been progressively building a bridge between digital and fiat currency worlds.
The partnership between Julius Baer and SEBA Crypto AG began last year, first as an equity investment, according to the bank’s official press release. The collaboration was expanded this year and will help Julius Baer clients from over 25 countries meet their increasing demand for digital assets. The bank plans to have its services extended to provide storage, transaction and investment solutions.
According to Peter Gerlach, Head Markets at Julius Baer and proposed member to the board of directors of SEBA, the launch of the new crypto-related services was necessary because of how “digital assets [have] become a legitimate sustainable asset class of an investor’s portfolio.”